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GeneProt Licenses Protein to Novartis

NEW YORK, May 23 - GeneProt announced today that it has licensed its first protein to Novartis Pharma, as reported by ProteoMonitor in April.

 

The protein came out of the proteomics company's ongoing research collaboration with Novartis. At the end of 2001, GeneProt, based in Geneva, Switzerland, delivered six proteins to Novartis for further study, one of which the drug company now chose to license.

 

Bertrand Damour, GeneProt's president and CEO, told ProteoMonitor in April that the deal resulted in a "significant amount of cash" for the company.

 

"We look forward to further licenses in due course coming out of our collaboration with Novartis and from others," Damour said in a statement.

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