Boston Probes Inc. Licenses PNA Technology to Gene Therapy Systems.

Business/Biotech/Health and Medical Writers

BEDFORD, Mass. and SAN DIEGO--(BW HealthWire)--Feb. 12, 2001

Today, Boston Probes, Inc. announced that it has granted a five year non-exclusive license to Gene Therapy Systems, Inc. for the sale of its GeneGrip(TM) life science research products that incorporate PNA technology. The terms of the License Agreement require that Gene Therapy Systems pay to Boston Probes an up-front fee, minimum annual royalties as well as earned royalties from product sales.

PNA is a unique synthetic molecule that hybridizes very tightly and in a sequence specific manner to its DNA target. Using modified PNA oligomers, specific ligands or chemically active groups can be attached to a DNA or plasmid target and effect a desired modification.

"We are very pleased that Gene Therapy Systems, Inc. has chosen to incorporate PNA technology into its products," says Jack Johansen, President and CEO of Boston Probes. "We look forward to working with Gene Therapy Systems, Inc. and anticipate that the availability of PNA-based products will not only accelerate the rate of life science research but will also facilitate their investigation and use in other applications, including therapeutic applications." "This product-based License Agreement also complements our other recently completed PNA licensing agreements with companies focused in the areas of high throughput screening and infectious disease diagnostics. Taken together, these licensing activities demonstrate the diverse applicability of PNA in biotechnology.

"We look forward to a strong and mutually beneficial business relationship with Boston Probes," says Anthony Sorge, President and CEO of Gene Therapy Systems, Inc. "Our licensing agreement with Boston Probes will allow us to provide unique and varied PNA-DNA products to the research and pharmaceutical markets. The expertise that Boston Probes has in the development and commercialization of PNA-based products will be of great benefit to our customers who demand and need quality and diverse product offerings."

Boston Probes is a development stage company located in Bedford, Massachusetts. Boston Probes has, since 1996, been developing PNA probe technologies for use in research products and in human diagnostics as well as the detection of microorganisms in foods, beverages, water, the environment and other industrial processes such as pharmaceutical manufacturing.

Boston Probes is forming strategic partnerships that will allow its partners to quickly exploit the advantages of PNA technology within their products and thereby achieve a substantial competitive advantage in their respective strategic markets. The company commands an extensive PNA related intellectual property portfolio as derived from its own innovations as well as the in-licensing of PNA related inventions from DAKO A/S, PNA Diagnostics A/S and the Applied Biosystems Group of Applera Corporation (NYSE "ABI").

Gene Therapy Systems (GTS) is a privately held Delaware Company, incorporated in 1998 and located at the center of San Diego's biotechnology hub. GTS has obtained a Patent on its PNA-DNA platform technology, which allows proteins, peptide and therapeutic agents to be irreversibly attached to synthetic vectors. Gene Therapy is also focusing on creating more cutting edge products by combining its current patented or proprietary technologies in gene expression, gene delivery, and protein delivery with the PNA-DNA platform technology.