Nov. 1 /PRNewswire/ -- Aurora Biosciences(TM) Corporation (Nasdaq: ABSC - news) and Senomyx, Inc.(SM) (www.senomyx.com) today announced that they have signed an exclusive collaborative research and license agreement for the discovery of consumer products enhancing taste and olfaction.
Under the collaboration, Aurora will employ its proprietary green fluorescent protein (``GFP'') technology and beta-lactamase reporter technology to develop screening platforms for Senomyx and will conduct ultra-high throughput screening using Aurora's instrumentation and a library of about 500,000 compounds.
Under the terms of the agreement, Senomyx was granted exclusive rights to use Aurora's functional genomics technology with over 400 of Senomyx's chemosensory gene targets for the discovery of consumer products enhancing taste and olfaction. In addition, Senomyx was granted non-exclusive rights to use Aurora's functional genomics technology with such gene targets for the discovery of therapeutic products. This agreement includes an up-front technology access fee, research funding and performance milestones. Certain therapeutic products discovered by Senomyx using Aurora's functional genomics technology are subject to downstream payment obligations to Aurora. In addition, Aurora has purchased one million shares of Senomyx's Series C Preferred Stock for $4.8 M.
``This collaboration includes the first license under Aurora's functional genomics technology specifically for the discovery of consumer products enhancing taste and olfaction. Senomyx is a leader in the field of chemosensation with a proven management team,'' stated Christopher Krueger, JD, MBA, Aurora's vice president, strategic alliances and legal affairs. ``This is another example of how Aurora's technologies can provide value and create new commercial opportunities in industries beyond pharmaceuticals and biotechnology.''
``This agreement furthers Senomyx's goal of becoming the world leader in consumer genomics and allows the company to quickly validate this large family of targets associated with taste, olfaction and vomeronasal receptors,'' stated Tracy Kohlenberg, vice president and corporate counsel at Senomyx. ``This collaboration accelerates the discovery process of novel molecules, unlocking the understanding of smell and taste, and helps build Senomyx's technology platform, complementing our internal genomics, biology and chemistry efforts,'' stated Dr. Mark Zoller, vice president for research at Senomyx. |
