Breaking News From Pharma & Bio Ingredients
Valentis Expands Licensing Agreements with Schering AG
Posted on 2005-06-07 06:12:00
Valentis, Inc., Burlingame, CA, said it is expanding the scope of its collaborative licensing arrangement with Schering AG, Germany. Under the agreement, Valentis agreed to grant Schering a worldwide license to Valentis' GeneSwitch gene regulation and PINC polymer delivery technologies for research purposes on a non-exclusive basis. Under the terms of the agreement, Schering AG paid Valentis an upfront license fee and Valentis is entitled to yearly license maintenance fees. Additional business terms were not disclosed.
This new agreement is in addition to the existing licensing agreements between the companies. In December 2002, the companies signed a multiproduct license and option agreement to develop and commercialize products that incorporate Valentis' proprietary GeneSwitch and PINC technologies. Under terms of the December 2002 agreement, Schering AG received exclusive, worldwide rights to the PINC(TM) and GeneSwitch technologies for use with up to two genes proprietary to Schering AG, and an option for non-exclusive rights to the PINC technology for a third gene. In September 2004, the companies announced that Valentis received a $1 million license fee as a result of Schering AG's decision to utilize Valentis' GeneSwitch and PINC technologies in an additional product development program.
Subscribe via RSS
