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Genetic Technologies exclusively licenses nucleic acid analysis patents.

Genetic Technologies Limited (Melbourne, Australia), entered into an exclusive limited license agreement with Perlegen Sciences, Inc. for nucleic acid analysis patents held by Genetic Technologies. The license, which covers applications in genetic research, was granted to Perlegen Sciences in exchange for an upfront payment in the form of cash and securities worth approximately AUD$1.6 million as an issue fee for this license. Other terms of the license agreement were not disclosed. Genetic Technologies is a biotechnology company that holds several United States and international patents in three leading areas of genetics: non-coding sequence analysis, genomic mapping, and fetal cell recovery.

Dr. Mervyn Jacobson, Executive Chairman of Genetic Technologies commented, "This licensing agreement further validates our past research and the resulting patents we now control. We are pleased with the licensing developments thus far and will continue with the company's strategy of granting licenses to United States and European genetics and genomics companies seeking to utilize our non-coding patents."

Perlegen Sciences conducts genetics research and develops products that impact and improve people's lives by employing a proprietary, cost-effective method for rapidly analyzing and comparing entire genomes. This whole genome association study capability enables Perlegen to identify genes that work in concert to cause common diseases and affect the body's response to drugs.

Genetic Technologies is an Australian biotechnology company that holds several United States 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. The company is also pursuing research in the treatment of AIDS and in the control of parasites in livestock using gene-based strategies. The company is also supporting research to identify genetic markers in various animal and plant species.

Genetic Technologies Limited +1-970-310-3857
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Comment:Genetic Technologies exclusively licenses nucleic acid analysis patents.
Publication:BIOTECH Patent News
Article Type:Brief Article
Geographic Code:1USA
Date:Sep 1, 2002
Words:310
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