NEW YORK (GenomeWeb News) – Life Technologies today announced a licensing agreement for Novici Biotech's technology for DNA-error correction as part of its continued expansion into the synthetic biology space.
Under the terms of the deal, Life Tech will integrate Novici's ErrAse DNA-error correction kit into its synthetic biology offerings and retain all rights to sublicense the technology. ErrAse will be available for research purposes through Novici until it is launched with the Life Tech name.
ErrAse is an enzymatic technology. By detecting and correcting mismatched based pairs introduced by short DNA synthesis or during PCR assembly, the technology can "dramatically" reduce errors in synthetic gene sequences, Life Tech said in a statement. It added that the technology allows for larger, more accurate DNA sequences, "saving researchers time and cost associated with inaccuracies in the gene synthesis process."
Financial terms of the deal were not disclosed.
The agreement is the most recent move by Life Tech as part of its strategy to increase its footprint in the synthetic biology market. Citing statistics from BCC Research, the company said that the space is estimated to reach $2.4 billion by 2013.
In May, Life Tech acquired a majority stake in synthetic gene firm Geneart for $47 million, and a month later it made an investment into Synthetic Genomics of $10 million, according to a document filed with the US Securities and Exchange Commission.
Soon after, a company official told GenomeWeb Daily News that "we see synthetic biology as a great long-term opportunity to really impact the world with solutions based on biology."