VARIAGENICS Licenses RNA Targeting Technology to Renegade Therapeutics
CAMBRIDGE, Mass.--(BW HealthWire)--July 30, 2002--VARIAGENICS, INC. (Nasdaq: VGNX - News), an emerging molecular diagnostics company and a leader in pharmacogenomics, today announced that it has granted a worldwide license for VARIAGENICS' RNA targeting patent (PCT/US00/05271) to Renegade Therapeutics, a novel drug discovery company. Under the terms of the agreement, VARIAGENICS has granted Renegade Therapeutics worldwide exclusive rights to all non-allele specific applications for the research, development, and commercialization of small molecule drugs that target RNA. The terms of the agreement include up-front fees, milestone payments, reimbursement for patent related expenses, and royalties on sales of any compounds developed using the licensed technology.
About Renegade Therapeutics
Renegade Therapeutics is an emerging drug discovery company, based in Cambridge, MA, that is developing small molecule therapeutics that target RNA. Based on a novel and proprietary chemistry platform, Renegade will focus its programs on well-defined therapeutic targets that have been difficult to modulate through traditional drug discovery and development efforts, and its initial therapeutic programs will be in the areas of infectious disease and cancer.
About Variagenics
VARIAGENICS, Inc. applies its pharmacogenomic technologies to the discovery, development and commercialization of personalized drugs and companion molecular diagnostic products focused primarily in the cancer area. The Company identifies therapeutically important genetic markers, including SNPs, haplotypes and, for cancer studies, loss-of-heterozygosity (LOH) and other related indicators. This information is then applied to clinical programs to enhance the success rates of drugs in development, and ultimately to the creation of diagnostics for predicting patient overall response to drugs. |
