NEW YORK (GenomeWeb News) – Response Genetics today said that it has received the third milestone payment from GlaxoSmithKline related to a licensing agreement reached by the two firms in March 2010.
Response Genetics received the milestone payment of $500,000 upon notice by the US Patent and Trademark Office that its patent titled "Methods, primers, Probes, and Kits Useful for the Detection of BRAF Mutations" has been allowed.
The Los Angeles-based molecular diagnostics company entered into a deal in 2010 granting GSK a non-exclusive, license to Reponse's PCR analysis technology and diagnostic expertise to evaluate BRAF gene mutations in human tumor samples.
Response earned the first $500,000 milestone payment as part of the deal in July 2012 for submission of the first premarket approval for GSK's drug Tafinlar (dabrafenib). Response earned a second milestone payment for the same amount in May 2013 when the US Food and Drug Administration approved the submission.