NEW YORK (GenomeWeb News) — Oxford Gene Technology today said it has granted UK biotech MassTag Technologies licensing rights to its Tridend technology.
The company said the option on the license will become exclusive when MassTag completes a fund-raising campaign. Also through the agreement, OGT will become a minority shareholder in MassTag.
The technology was developed under former OGT subsidiary Tridend and is suited for mass spec systems because it offers multiplexing and ability to analyze multiple samples, according to OGT.
OGT CEO Mike Evans said the agreement came after a strategic review, when OGT began focusing on finding partnerships in the microarray field.
Financial terms of the agreement were not disclosed.