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Orchid and Genetic Technologies Exchange Licenses

NEW YORK, May 30 -- Orchid BioSciences and Genetic Technologies have licensed each other's technologies, the companies said today.

 

Genetic Technologies, based in Melbourne, Australia, obtains exclusive licenses to Orchid's SNP panels for paternity and forensic DNA testing services, as well as to Orchid's Elucigene diagnostic kits, for the areas of Australia, New Zealand, and Southeast Asia. Moreover, it acquires a non-exclusive license to primer extension patents held by Orchid.

 

In return, Orchid will receive royalties from revenues that Genetic Technologies will generate using these technologies. Orchid, located in Princeton, NJ, also receives an option to license Genetic Technologies' non-coding patents for SNP analysis, as well as clearance for past business activities that may have been covered by these patents.

 

Both companies exchanged upfront signing fees.

 

For further information, see the company statement.

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