Fluidigm Corporation (NASDAQ:FLDM) Files An 8-K Entry into a Material Definitive Agreement

Fluidigm Corporation (NASDAQ:FLDM) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01. Entry into a Definitive Material Agreement.

As previously disclosed in its Quarterly Report on Form 10-Q filed August 7, 2020, Fluidigm Corporation (the “Company”) entered into a letter contract in July 2020 with the National Institutes of Health (NIH) for a project under the NIH Rapid Acceleration of Diagnostics (RADx) program aimed at increasing the number, type, and availability of tests for SARS-CoV-2, the virus that causes COVID-19. On September 28, 2020, the Company executed a definitive contract with the NIH as an amendment to the letter contract to expand production capacity and throughput capabilities for COVID-19 testing with Fluidigm microfluidics technology.
to the terms of the definitive contract, the funding for the project was increased by approximately $22.0 million, for a total contract value of up to approximately $34.0 million upon the achievement of milestones. The project will be funded in whole or in part with Federal funds from the National Institute of Biomedical Imaging and Bioengineering, NIH, Department of Health and Human Services, under Contract No. 75N92020C0009.
The contract contains a number of terms and conditions that are customary for government contracts of this nature, including, but not limited to, provisions giving the government the right to terminate the contract or to order the Company to stop all or any part of the work under the contract for the government’s sole convenience.
The foregoing summary of the definitive contract does not purport to be complete and is qualified in its entirety by reference to the definitive contract, which will be filed as an exhibit to the Company’s Quarterly Report on Form 10-Q for the quarter ending September 30, 2020.
About Fluidigm Corporation (NASDAQ:FLDM)

Story continues below

Fluidigm Corporation creates, manufactures and markets technologies and life science tools focused on the exploration and analysis of single cells, as well as the industrial application of genomics, based upon the Company’s core microfluidics and mass cytometry technologies. The Company operates in the development, manufacturing and commercialization of life science tools for the life science and Ag-Bio industries segment. Its products include preparatory instruments, preparatory analytical instruments, analytical instruments, integrated fluidic circuits (IFCs), and assays and reagents. Its preparatory instruments include C1 Single-Cell Auto Prep System, Access Array System, Juno System and IFCs, and Callisto System and IFC. Its analytical instruments include Biomark HD System, EP1 System and Helios/CyTOF 2 System. Its assays and reagents include Delta Gene and SNP Type Assays, and Access Array Target-Specific Primers and Targeted Sequencing Prep Primers.

An ad to help with our costs