Oxford GlycoSciences Plc - GeneProt Licences OGS' Automated Proteomics Patents

11-Feb-2002

Oxford GlycoSciences Plc 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 andpatent 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 MacroProtTM process."

https://www.chemeurope.com/en/news/8221/oxford-glycosciences-plc-geneprot-licences-ogs-automated-proteomics-patents.html