NEW YORK, Jan. 9 (GenomeWeb News) - GenomeTherapeutics has sold its pending Streptococcus pneumoniae patent applications to Aventis Pasteur, the company said today.
Aventis Pasteur, the vaccines business of Aventis, paid Genome Therapeutics $3 million for the U.S. patent applications, which relate to gene and protein sequences from the S. pneumoniae genome. Genome Therapeutics, based in Waltham, Mass., will retain certain rights relating to its pathogen genetic sequence database and its infectious disease diagnostics development program.
In addition, Genome Therapeutics said it has concluded a bone disease research project with Amgen, which led to the discovery of a novel gene. The company, which announced its plan to merge with Genesoft Pharmaceuticals in November, said it continues to reduce its investment in early-stage discovery research projects.