GTG reaches settlement deal with Promega
Genetic Technologies (ASX:GTG) has entered yet another settlement and licensing agreement as part of its genetic patent out-licensing activities.
The company has agreed to license its intron sequence analysis and genomic mapping patents to US-based Promega Corporation. Commercial terms of the agreement were not disclosed.
GTG had previously made infringement claims against Promega, alleging that the company’s PowerPlex DNA typing kits violated the former’s patents.
The settlement follows a line of similar agreements GTG secured in 2013, including deals with Genelex Corporation, the Genetics and IVF Institute and PreventionGenetics.
Wisconsin-based Promega has agreed to be part of a research partnership led by a University of Western Australia biomolecular expert, aimed at developing techniques for monitoring molecular interactions based on bioluminescence resonance energy transfer (BRET) technologies.
The multinational project secured an Australian Research Council Linkage Grant in February.
Genetic Technologies (ASX:GTG) shares were trading 1.69% higher at $0.06 as of around 1 pm on Wednesday.
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