ITI Life Sciences licenses technology to Cognia to develop a database product to enhance drug discovery and development
ITI Life Sciences announced the signing of a commercialisation licence with Cognia EU Ltd. The new licence will enable Cognia to develop a new database product that will streamline researchers' access to essential scientific information. Initially the licence permits Cognia to build a single information database around a key subject of interest to drug discovery professionals. Currently, researchers spend over 50% of their time searching for information through millions of scientific publications; quality curated databases such as those Cognia provides bring the summary of known scientific facts on a topic to the desktops of researchers around the world. Both parties anticipate executing a permanent agreement later this year that will enable Cognia to construct human curated database far more efficiently. Cognia, as a participant in the ITI Life Sciences Text Mining research programme, has the rights to license the intellectual property (IP) for life science applications.
The technology being licensed was developed as part of a three-year ITI Life Sciences R&D programme, involving the University of Edinburgh's School of Informatics and Cognia, which began in March 2005. ITI Life Sciences will receive royalties on sales of the product produced using this technology, which will be re-invested in this and other programmes. Financial terms were not disclosed.
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