Sienna signs licensing deal for cancer test
Monday, 23 January, 2012
Melbourne-headquartered Sienna Cancer Diagnostics has secured a new licensing agreement with US biotech Geron Corporation for the IP to develop a cancer test.
The revised agreement with its licensor will allow Victoria-based Sienna to continue to develop and commercialise a new diagnostic method to directly detect the telomerase protein in cancer cells.
The method uses Sienna's Telomerase Biosensor Technology to detect telomerase activity, with initial tests in development targeting bladder, prostate and colorectal cancers.
Under the deal, Geron will be entitled to milestone, royalty and revenue share payments based on commercial sales.
Geron is one of Sienna's largest shareholders.
Simultaneously, Sienna announced that it has secured a government grant to support the development of a multi-site clinical study this year.
The company will receive follow-on grant funding of $250,000 as part of the Commercialisation Australia Proof of Concept program – as well as $10,000 from the Victorian Small Technology program, to go toward other objectives.
Sienna was incorporated in New South Wales in 2002 by Founding Director David Lance OAM. It is located at the Bio21 Institute at the University of Melbourne.
The company has developed its technology in collaboration with the Ludwig Institute for Cancer Research, as well as Austin Health, TissuPath and the Childrens' Medical Research Institute.
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