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ACTON, Mass./YAMANASHI, Japan - Bluejay Diagnostics, Inc. (NASDAQ:BJDX), currently trading at $1.87 per share with a market capitalization of $2.79 million, has amended its agreements with Japan-based SanyoSeiko Co., Ltd. to expand the manufacturer’s role in commercializing Bluejay’s Symphony platform, according to a press release issued Thursday.
Under the amended master service and supply agreements, SanyoSeiko will provide comprehensive support for the Symphony platform, a near-patient testing system designed for rapid biomarker detection, including IL-6 for sepsis management. According to InvestingPro data, Bluejay maintains a strong liquidity position with a current ratio of 4.56, indicating robust short-term financial stability.
The expanded partnership tasks SanyoSeiko with supporting manufacturing redevelopment for analyzers and cartridges, managing raw material sourcing, vendor compliance, and serving as Bluejay’s contract manufacturing organization. SanyoSeiko will also handle fulfillment, kit assembly, labeling, packaging, shipping, and quality control.
"This expanded partnership marks a key milestone in Bluejay’s commercialization strategy for the Symphony platform," said Neil Dey, CEO of Bluejay Diagnostics. While the company has seen a significant 16% return over the last week, InvestingPro analysis reveals several additional insights about the company’s performance and potential. Subscribers can access 11 more exclusive ProTips and detailed financial metrics.
Futoshi Shirakawa, CEO of SanyoSeiko, stated that the company’s "technical capabilities and manufacturing experience will support the successful commercialization of Symphony."
The Symphony System is designed to provide results in approximately 20 minutes for sepsis triage and monitoring. Bluejay noted that it has not yet received regulatory clearance from the U.S. Food and Drug Administration for the Symphony System.
Bluejay Diagnostics focuses on developing rapid near-patient testing solutions for critical care, while SanyoSeiko specializes in precision engineering and contract manufacturing for medical devices.
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