University Patents Inc. said it has reached an agreement toshare income paid to the Southern Research Institute fromsales of U.S. Bioscience Inc.'s Ethyol chemoprotective product.
University Patents, a licensing agent for university discoveries,had an agreement to represent the Birmingham, Ala., institute'sinterests in the product. However, the institute independentlyreached its agreement with U.S. Bioscience.
Under the new agreement, University Patents (AMEX:UPT) ofWestport, Conn., has limited to $500,000 its share of potentialyearly Ethyol income.
Ethyol, an intravenous protective agent for use withchemotherapy and radiation therapy, is awaiting FDA approval.
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