(Alliance News) - Ulysses Biomed Spa and Elettrobiochimica Srl, a company active in the field of laboratory diagnostics for the study, realization and supply of analytical laboratories addressed to clinical pathology, microbiology, virology, genetics and oncological diagnosis, on Monday signed a service agreement to support the development of an in vitro medical-diagnostic device.

As the company explains in a note, the agreement calls for UBM to carry out activities evaluating the analytical and manufacturing performance of an IVDR device from Electrobiochemistry and which, downstream of the aforementioned activities, it will prepare to take to the clinical validation stage.

The activities under the agreement will be carried out at the R&D and manufacturing facility of Hyris, a wholly owned subsidiary of UBM after the reverse takeover deal announced last December 2023.

The agreement is in addition to one already signed in January 2024 for same services related to another in vitro diagnostic medical device.

Ulysses is in the green by 2.6 percent at EUR1.17 per share.

By Claudia Cavaliere, Alliance News reporter

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