LEXINGTON, MA, August 1, 2000
- Genta Incorporated (Nasdaq:
GNTA
) announced completion of its first out-licensing agreement for
recently acquired patents to Sequitur Incorporated, Natick, MA. The
non-exclusive license agreement includes upfront payments in cash
and future royalties on product sales.
Fundamental claims in this patent portfolio involve methods,
compositions, and processes for in vitro and in vivo inhibition of
protein synthesis by antisense oligonucleotides. Issued claims in
the portfolio are exceptionally broad and enabling for most
pharmaceutical uses, as well as many diagnostic applications. Genta
has exclusive rights to the patents for its own use, as well as
rights to grant sublicenses without restriction to other users. The
Company believes that out-licensing will rapidly expand the use of
antisense technology to treat many common diseases worldwide.
"We are quite pleased to grant the first non-exclusive license
of these patents to Sequitur," said Mr. Thomas Burger Vice
President, Corporate Development. "This portfolios very early
priority date of 1981, combined with its exceptionally broad
claims, provide us with a significant strategic advantage in the
antisense field. Genta has a very strong intellectual property
portfolio, and the Company will continue to seek additional
licensees for this group of patents and technology."
