Genetic Technologies Limited has executed a Settlement and License Agreement with respect to its non-coding patents with EraGen Biosciences Inc., based in Madison, Wisconsin, USA. This is the second such agreement that GTG has secured in the last week.
The license granted by GTG covers the activities of EraGen in relation to its genetic diagnostic and analysis products, limited to USA and Canada. The commercial terms of the license granted to EraGen are subject to confidentiality between the parties.
Although not a counterparty to GTG’s US patent infringement suit (ASX announcement 16 February 2010), discussions between GTG and EraGen regarding GTG’s non-coding patents have been proceeding for some time, and have now resulted in GTG granting to EraGen a non-exclusive license for all EraGen products, as well as the normalization of past historical sales by EraGen.
Discussions with other parties both in the context of the patent infringement suit and external to that suit are ongoing and progressing. Further details will be released to the market when appropriate.
Date: May 4, 2010
Source: Genetic Technologies Limited
Filed Under: Drug Discovery
