NEW YORK (GenomeWeb) – Trovagene has assigned all of its miRNA patents to London-based firm GenSignia IP and licensed back the technology, the San Diego-based company disclosed in its Form 10-Q filed with the US Securities and Exchange Commission recently.
The two companies entered into the deal on May 8, and effective April 23, Trovagene assigned to GenSignia IP all of its miRNA patents, including methods of using miRNA for detecting in vivo cell death and detecting cell-free miRNA in urine and blood. The UK firm then granted Trovagene an exclusive, worldwide, royalty-free, fully paid, perpetual license to the transferred patents for use in the urine field.
GenSignia IP will pay Trovagene a low-single digit royalty on net sales and an aggregate $6.5 million in milestone payments upon the achievement of up to $150 million in net sales. Further terms were not disclosed.
Trovagene CEO Antonius Schuh is a director of GenSignia IP, but did not participate in the negotiations between the two companies on the deal, Trovagene said.
GenSignia IP was established earlier this year. Another firm called GenSignia and headquartered in San Diego develops miRNA-based molecular diagnostics. Schuh is also a director for that company.