GeneProt Licences OGS' Automated Proteomics Patents
OXFORD, UK, and NORTH BRUNSWICK, N.J., Feb. 8 /PRNewswire-FirstCall/ -- Oxford GlycoSciences Plc. (LSE: OGS; Nasdaq: OGSI) and GeneProt Inc. announced today that they have reached agreement on the licensing of OGS' automated proteomics U.S. Patent Numbers 6064754 and 6278794 and their foreign equivalents upon grant. GeneProt is the first licensee of these patents.
The terms of the seven-year, non-exclusive agreement stipulate that GeneProt will pay an up-front licensing fee of $1 million in cash and equity and will make additional annual payments, which will vary according to the existence of granted patents in the USA, in Europe and in Japan. This licensing agreement will give GeneProt the freedom to operate under the patents licensed for the provision of proteomics services. No transfer of technology, know-how or trade secrets will occur under the terms of this transaction.
Commenting on the OGS proteomics patent, Michael Kranda, Chief Executive Officer of OGS, said: ``Our pioneering efforts in industrialised proteomics have allowed us to establish a broad portfolio of technology and disease- protein patents and patent applications. We are pleased to announce GeneProt as our first licensee.''
The claims of the '754 and '794 patents relate to the use of methods and apparatus for computer-assisted selection and robotic isolation of proteins following two-dimensional separation. These are essential steps in some of the current industrial proteomics processes.
``Good science, including the emerging field of proteomics, is based on rigorous standards. In the biotechnology and pharmaceutical field, patents have long served this purpose as well as protecting the intellectual property of companies,'' said Cedric Loiret-Bernal, M.D., Chief Executive Officer of GeneProt. ``To this end, we are delighted to reach agreement and acquire the freedom to operate under these important patents. Our goal will be to incorporate these into a portion of our MacroProt(TM) process.''
Notes to Editors
About OGS
OGS has developed a patented technology platform in the emerging field of proteomics, the comprehensive study of proteins, integrating proteomics with genomics to create an innovative drug discovery platform. OGS' proteomics collaborations with major pharmaceutical and biotechnology companies include Bayer, Pioneer Hi-Bred/DuPont, Medarex/GenMab, GlaxoSmithKline, NeoGenesis and Pfizer. OGS has technology development collaborations with Applera, Cambridge Antibody Technology, Packard BioScience and the Institute for Systems Biology. OGS has also entered into a joint venture, Confirmant Limited, to develop the Protein Atlas of the Human Genome(TM).
OGS has drug research and discovery programmes in central nervous system, cancer, infectious disease and glycosphingolipid (GSL) storage disorders. OGS has had submissions to regulatory authorities accepted for review in both Europe and the US for its development compound, Vevesca (OGT 918), for the treatment of type 1 Gaucher disease.
This release contains forward-looking statements, such as the commercial potential and success of OGS' collaborations and drug candidates. Factors that could cause actual results to vary significantly from those expressed or implied by these and other forward-looking statements include the success of OGS' research and development strategies, the validity of its technologies and intellectual property position and strategies, the medical conclusions on which Vevesca (OGT 918) is based and uncertainties related to the regulatory process. Vevesca (OGT 918) is an investigational drug and has not received approval for marketing in any country.
About GeneProt(TM)
GeneProt(TM), Inc. is a global industrial-scale proteomics company focused on identifying, characterizing, selecting and, when appropriate, synthesizing certain human proteins on behalf of life sciences companies for use in the discovery and development of new therapeutic proteins, protein drug targets and protein biomarkers. GeneProt brings together and integrates international teams of leading experts in proteomics and bioinformatics with the vision, insight and ability to speed the development and enhance the quality of tomorrow's human therapies.
GeneProt's partners include leading pharmaceutical and technology companies and academic and scientific institutions such as Novartis, Compaq, Bruker Daltonics, Waters Corporation and the Swiss Institute of Bioinformatics. The company will pursue additional partnerships with organizations that can derive value from or bring value to GeneProt's unique offerings in proteomics discovery and production. Pharmaceutical partnerships represent potential significant revenue sources for both the short and the long term.
With headquarters in North Brunswick, New Jersey, GeneProt opened the world's first fully operational, industrial-scale proteomics discovery and production facility in Geneva, Switzerland, in April 2001. The facility houses the world's largest commercial supercomputer, equipped with state-of- the-art mass spectrometers and some of the most advanced bioinformatic and computing data-storage technologies and uses leading genetic and protein databases. For more information, please visit www.geneprot.com. |
