NEW YORK, April 17 - Australian genomics company Genetic Technologies Group has given Nanogen a non-exclusive license to some of its gene patents.
Terms of the deal call for Nanogen to fork over about $620,000 in cash and securities in exchange for a number of patents GTG holds for certain non-coding, or junk, regions of human genes, GTG said yesterday.
The deal comes on the heels of a similar agreement with Sequenom worth roughly $537,000 signed last week.
GTG, a publicly traded company, is based in Melbourne.