Nuevolution Announces Worldwide Technology Cross-Licensing Agreement with GSK
Nuevolution announced the execution of a worldwide technology cross-licensing agreement with GlaxoSmithKline. The agreement relates to a number of patented technologies for rapid synthesis and DNA-tagging of hundreds of millions of chemically diverse drug-like small molecule compounds and the efficient screening of these, facilitating the identification of potent drug leads. These technologies were developed by Nuevolution and Praecis Pharmaceuticals, a wholly owned subsidiary of GlaxoSmithKline.
Under the terms of the cross-licensing agreement, GlaxoSmithKline will obtain a non-exclusive license under technology patents of Nuevolution, and Nuevolution will obtain a one time license fee and a non-exclusive license under technology patents of GlaxoSmithKline. Further details of the agreement are not disclosed.
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