Orchid and Beckman Coulter Announce Molecular Diagnostics Option and Licensing Agreements
FULLERTON, CA (February 22, 2002) – Orchid BioSciences, Inc. (Nasdaq: ORCH) and Beckman Coulter, Inc. (NYSE: BEC) today announced that Orchid has granted an option to Beckman Coulter to license Orchid's SNP-IT™ Primer extension technology for molecular diagnostic SNP (single nucleotide polymorphism) applications on multiple platforms. Beckman Coulter also obtained a license to make and sell certain analyte specific reagents (ASR) for use on these platforms.
Under the terms of the option, Beckman Coulter may obtain a non-exclusive license to develop and sell diagnostic kits and systems incorporating Orchid's SNP-IT technology for performing DNA diagnostic tests on capillary electrophoresis systems, microarray plates and flow cytometers. Beckman Coulter has three years to exercise the option. In addition, Beckman Coulter has secured a non-exclusive license from Orchid to make and sell DNA diagnostic tests containing ASRs for use on capillary electrophoresis systems, microarray plates and flow cytometers. Orchid will receive royalties on sales of ASR tests. In addition, once the option is exercised, Orchid will receive upfront payments and royalties on sales of SNP-IT-based diagnostic kits. Further details of the agreements were not disclosed.
"As SNP analyses are increasingly being used in clinical diagnostics, we believe that the flexibility, accuracy and cost effectiveness of Orchid’s SNP-IT will make it the diagnostic SNP scoring technology of choice," said Donald R. Marvin, chief operating officer at Orchid BioSciences and acting general manager of Orchid Diagnostics. "We are delighted to conclude this new agreement with Beckman Coulter, who currently has a major presence in the in vitro diagnostic marketplace and whom we expect to be an important player in the rapidly growing field of DNA diagnostics."
"We have previously announced an agreement with Orchid to produce and sell systems using SNP-IT technology to the research market," said Ed Vivanco, president of specialty testing for Beckman Coulter. "This new agreement expands our rights to serve customers performing genetic testing in clinical trial and clinical research markets. The opt
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