Nanogen, CombiMatrix Settle Legal Dispute
Nanogen and CombiMatrix have settled their patent litigation. CombiMatrix will issue Nanogen 17.5 percent of the outstanding shares of its common stock, and pay the company $1 million in cash. Nanogen will also receive royalties until the patents expire. These can increase to a maximum of $1.5 million annually, based on 12.5 percent of the first $12 million of CombiMatrix’s annual net revenues from product sales. Nanogen agrees that CombiMatrix, a subsidiary of Acacia Research, owns all rights to its issued patents, US Patents Nos. 6,093,302, 6,280,595, and 6,444,111, all foreign equivalents, and any new claims issued via open continuations of the patents. Nanogen also waives all rights to make future claims regarding the patents. Nanogen, CombiMatrix, and Donald Montgomery have furthermore agreed to drop their claims and counterclaims.
Xanthon Auctions Off Its Assets
Now-defunct microarray startup Xanthon will liquidate its assets at a webcast auction in Raleigh, N.C, on Thursday, October 10 at 10 am. At the same auction, DNA Sciences will sell equipment resulting from a business refocus about a year ago. Auction bidding will take place at the Holiday Inn at Research Triangle Park. For a complete catalogue and to register online, go to www.cowanalexander.com.
Hutch Nets $12.7M from NCI to Lead Prostate Cancer Consortium
The Fred Hutchinson Cancer Research Center has reaped $12.7 million from the NCI to lead a multi-center, five-year investigation into the genetic mechanisms of prostate cancer progression. The study involves four projects, one of which aims to understand the molecular biology of prostate cancer throughout all stages. This project will analyze gene and protein expression in prostate tumors and is led by Leroy Hood of the ISB and Peter Nelson of the Hutch. Nelson, who is also an assistant professor of medicine and biotechnology at the UW School of Medicine, will co-lead an informatics and gene expression core that will provide microarray technology and data analysis tools to facilitate large scale gene expression studies.
Strand Genomics Cashes $4.6M in First Round
Strand Genomics of Bangalore, India, has completed a first round of $ 4.6 million led by WestBridge Capital Partners, a US-India venture capital firm. Other investors include UTI Ventures and angel investors.