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Nuevolution, GSK Sign Cross License

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.

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