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Biotech / Medical : Sequenom, Inc. (SQNM) -- Ignore unavailable to you. Want to Upgrade?

To: keokalani'nui who wrote (101)	5/18/2002 6:28:31 AM
From: nigel bates	Respond to of 364

Not if Nanogen negotiated a similar clause <g> Message 17344608

To: keokalani'nui who wrote (101)	3/12/2003 7:19:37 AM
From: nigel bates	Respond to of 364

A little more than a peppercorn ? MELBOURNE, Australia, and UPPSALA, Sweden, March 12 /PRNewswire-FirstCall/ -- Genetic Technologies Limited, (ASX: GTG - News; OTC: GNTLF - News) and Pyrosequencing AB (Stockholm: PYRO A) today announced the signing of a strategic cross-license agreement relating to intellectual property surrounding the identification of non-coding DNA alterations developed by Genetic Technologies, and sequencing by synthesis technology developed by Pyrosequencing. Under the terms of the agreement, Pyrosequencing will receive a broad, non-exclusive license to Genetic Technologies' non-coding DNA analysis and mapping patents, with application to all genes and all species, to be used in applications of Pyrosequencing's sequencing by synthesis technology. As part of the agreement, Pyrosequencing pays Genetic Technologies a signing fee of US$500,000 plus royalties on reagent sales. Genetic Technologies will also receive three state-of-the-art Pyrosequencing instruments, to be installed at Genetic Technologies' main laboratory, based in Melbourne, Australia, and intellectual property for use in Australia and New Zealand. In addition, Pyrosequencing will work with Genetic Technologies to develop new gene-based assays using Pyrosequencing's genotyping platform that will expand Genetic Technologies' diagnostics business and its world-class cancer susceptibility testing facility, now being established in Melbourne to service the Asia-pacific region. Including the upfront cash payment, instruments, reagents, assay design services, intellectual property and rolling royalties, the deal is estimated to be worth $2.5 million. According to Erik Wallden, President & CEO of Pyrosequencing AB, the agreement strengthens Pyrosequencing's ability to penetrate the applied genomics marketplace by extending protection to customers who are using the Company's products to explore non-coding regions of the genome. Dr. Mervyn Jacobson, Executive Chairman of Genetic Technologies, commented, "We are delighted to sign the cross-license agreement with Pyrosequencing. Their sequencing by synthesis technology gives Genetic Technologies a competitive edge to develop new gene-based assays in support of our growing genetic diagnostics business. More generally, we regard this agreement with Pyrosequencing as further international recognition and validation of our valuable intellectual property and resources." About Genetic Technologies ... Genetic Technologies is an Australian biotechnology company that holds several US and international patents in three leading areas of genetics: non-coding sequence/intron DNA analysis, non-coding sequence genomic mapping, and fetal cell recovery. The non-coding patents cover most genes in most species. Genetic Technologies operates the largest DNA laboratory in Australia for paternity testing. Additionally, the Company is pursuing research in the treatment of AIDS and in the control of parasites in livestock using gene-based strategies. Genetic Technologies is actively supporting research to identify genetic markers in various animal and plant species and also supports efforts to save endangered species by application of newly emerging genetic and reproductive technologies. About Pyrosequencing AB ... Pyrosequencing AB develops, manufactures and sells complete solutions for rapid applied genetic analysis based on its proprietary Pyrosequencing(TM) technology, a broadly applicable DNA sequencing technique. Pyrosequencing is a leader in the global market in Applied Genomics with nearly 250 systems sold to major pharmaceutical and biotech companies and prestigious research institutions worldwide. The Company actively collaborates with industry leaders to develop clinical applications of the technology for disease diagnosis, clinical prognosis and pharmacogenomics testing. ------------------------------------------------------------------------