NEW YORK (GenomeWeb News) – Acceler8 and Nanosphere have reached a non-exclusive licensing agreement for Acceler8's surface coating technology.
The deal, disclosed in a document filed by Nanosphere with the US Securities and Exchange Commission, covers "a coating to be applied to a single discrete physical substrate component article." The coating is "a polymer formulation comprising of an active component comprising polyethylene glycol polymer; a matrix-forming component; and a cross-linking component."
Under the terms of the deal, Nanosphere will pay Accelr8 a license and technology transfer fee of almost $1.9 million payable in four installments. The first installment of $165,000 was due upon execution of the deal. The remaining installments — $350,000, $600,000, and $750,000 — are due on July 9, 2011, 2012, and 2013, respectively.
The deal was reached on July 9, said Nanosphere.