NEW YORK (GenomeWeb News) – Danish firm Nuevolution and drugmaker GlaxoSmithKline have inked a cross-licensing agreement covering DNA-tagging, synthesis, and small molecule compounds, Nuevolution said today.
Under the agreement, GSK will obtain a non-exclusive license for Nuevolution's technology, and Nuevolution will obtain a one-time license fee and a non-exclusive license under GSK's patents.
The technologies, developed by Nuevolution and Praecis Pharmaceuticals, a GSK subsidiary, will cover rapid synthesis, DNA-tagging, and screening of drug-like small molecule compounds for potential drug leads.
Financial terms of the agreement were not released.