Biosynth, a Swiss-based developer of reagents and biologically active chemicals and Ramot, the Tel Aviv University Business Engagement Center, said the JV is called Nemis Technologies.
In recent years, Biosynth has introduced chromogenic, fluorogenic and luminescence-based systems.
Urs Spitz, CEO of Biosynth, said: "I am very confident that AquaSpark and our easy-to-handle diagnostic kits and solutions will have the potential to replace today's market standard, fluorescence-based tests, as much as these once replaced colour tests."
Shlomo Nimrodi, Ramot's CEO, said: "We are excited that our science will be brought to affordable, highly effective technical applications to avoid huge safety challenges throughout the world, potentially saving numerous lives."
The jointly created technology platform AquaSpark forms the basis of Nemis Technologies' development of diagnostic kits for pathogenic bacteria detection in areas such as food safety and water treatment.
Current development projects include Salmonella, Listeria, Coliforms and Campylobacter.
An initial seed funding round in spring 2018 led to launch of operations and research and development.
The technology enables chemiluminescence probes for research and diagnostic applications. The firms claim AquaSpark molecules are 3,000 times brighter than standard commercially available products.
Pathogenic bacteria are made visible with light signals faster than current standard methods.
Nemis Technologies will be led by CEO Arnaud Muller. Spitz and Nimrodi are on the board of directors with Roger Meier as chairman of the board.
The board of directors includes Joerg Brun, who was responsible for the food business at Switzerland's largest retailer, Migros.