NEW YORK, Nov. 2 — Genicon Sciences has closed a deal to allow the Genomics Institute of the Novartis Research Foundation to use its proprietary Resonance Light Scattering technology, according to Genicon.
The partners will cooperatively develop and commercialize the technology, which Genicon has designed for stable, highly sensitive signal generation and detection in a range of molecular assays.
By the terms of the deal, San Diego, Calif.-based Genicon also gets certain rights to GNF microarray technologies, which the company will use to further develop their platform for use in mouse antibody assays and protein microarray kits.
The R&D partnership will be pooled so that each partner pays for its own research costs, and each retains rights to developments in its own products, said a company spokesperson. Under this arrangement, Genicon will retain rights for assay development, and GNS will maintain commercial drug development rights.
Other financial details of the partenrship, originally announced o Thursday, were not disclosed.
According to Genicon, their RLS technique is highly specific and up to 1 million times more sensitive than fluorescence signaling technology, making it ideal for applications in gene sequencing, immunohistology and gene expression studies.
The company, which is privately held, promotes an “open access” business model, by which it partners with other companies to develop and improve its core technology without upfront contract fees, milestone payments or royalty fees
GNF director Peter Schultz said in a statement that the institute, also based in San Diego, plans to use the product in its forward mouse genetics research program.