GlaxoSmithKline Becomes 15th Sublicensee of Lexicon's Patented Gene Targeting Technologies
THE WOODLANDS, Texas, Aug. 15 /PRNewswire/ -- Lexicon Genetics Incorporated (Nasdaq: LEXG - news) announced today that it has granted to GlaxoSmithKline Plc (NYSE: GSK - news) a multi-year, non-exclusive sublicense for the use of its patented gene targeting technologies for GSK's internal research programs. Under the terms of the agreement, Lexicon will receive a one-time upfront technology and license fee from GSK. Specific financial terms were not disclosed.
``We are very pleased to have GSK join the prestigious group of licensees to our patented gene targeting technologies,'' said Arthur T. Sands, M.D., Ph.D., President and Chief Executive Officer of Lexicon. ``GSK's license provides further affirmation that our patented gene targeting technologies are an integral resource to validate targets for drug discovery.''...
Apparent contrast in terms, with no mention of milestones etc -
In January, Lexicon granted to Immunex a multi-year, non-exclusive sublicense for the use of its patented gene targeting technology for Immunex's internal research programs. The sublicense applies to any Immunex product that has used the Lexicon technology since the date of patent issuance. Lexicon receives annual license fees, as well as technology usage fees for each model developed by Immunex using Lexicon's patented gene targeting technologies. In addition, Lexicon may receive milestone payments on products that benefit from the use of Lexicon's patented gene targeting technologies. Immunex was the 14th sublicensee of Lexicon's patented gene targeting technologies. |
