A Medical Device Daily
Oxygen Biotherapeutics (Costa Mesa, California) reported that the company has reached an agreement to license its glucose biosensor technology to Glucometrics (Hilliard, Ohio) for applications involving the measurement and monitoring of glucose levels in diabetes patients.
Oxygen Biotherapeutics will receive stock in Glucometrics and running royalties on a sliding scale based on worldwide net revenues from products derived from the licensed technology. Under terms of the agreement, the companies are not disclosing the royalty formula.
"I am proud to announce this major milestone in our corporate history with our first-ever license agreement. Because of our focus and the priority we've placed on development of applications for Oxycyte, we were just not able to put the required amount of resources into the development of the biosensor," said company chairman/CEO Chris Stern "With this agreement, the biosensor intellectual property can be developed to its full potential with the possibility of generating a future royalty stream for our shareholders."
Oxycyte is the company's perfluorocarbon (PFC) therapeutic oxygen carrier.
"As the field of glucose sensing grows and matures, the need for more accurate, more continuous, and lower cost devices has become even more pressing," said Bill Timmons, president of Glucometrics. "The glucose biosensor technology that we're licensing offers numerous important features, including better accuracy than the current FDA-approved gold standard, self-calibration, and reusability. These features combine to create a system that permits highly accurate, real-time, continuous glucose sensing."
Oxygen Biotherapeutics is developing pharmaceuticals and devices in the field of oxygen therapeutics and continuous substrate monitoring. The company has under development a perfluorocarbon therapeutic oxygen carrier and liquid ventilation product and an implantable glucose sensor.
Glucometrics is a start-up firm co-founded by Alan Brunsman and EnteraTech (Hilliard, Ohio), which is developing a continuous glucose sensing system.
In other dealmaking news, Sequenom (San Diego) reported that it has secured exclusive rights to fundamental patent rights for digital PCR technologies and methods through a licensing agreement with Genomic Nanosystems, a wholly owned subsidiary of Cytonix (both Beltsville, Maryland).
The exclusively licensed rights include U.S. Patent Nos. 6,143,496 and 6,391,559 and pending applications. The license provides Sequenom with the exclusive right to use digital PCR methods on any platform for noninvasive prenatal diagnostics and analysis for any sample (for example, fetal cells, amniocentesis fluids, plasma, urine, etc.). Sequenom also secured the exclusive right to use digital PCR methods in conjunction with mass spectrometry for any commercial, diagnostic or research purpose, excluding second generation sequencing. Financial terms were not disclosed.
"Sequenom's extensive intellectual property position in noninvasive prenatal diagnostic testing for the assessment of fetal Down syndrome and other fetal genetic conditions is enhanced by this partnership, enabling us to develop even more highly sensitive tests on our MassArray system, as well as other platforms of our choice in our fields of use," said Harry Stylli, PhD, president/CEO of Sequenom. "We are particularly pleased to be chosen as an exclusive partner by Genomic Nanosystems. These exclusive rights ... further strengthen the proprietary foundation upon which we will continue product development and commercialization in our SEQureDx diagnostics business. Furthermore, Sequenom intends to develop a MassArray platform-based digital PCR solution for our genomic analysis business and for cancer research and diagnostics."
Sequenom provides genetic analysis products that translate the results of genomic science into solutions for noninvasive prenatal diagnostics, biomedical research, translational research and molecular medicine applications.