BIOLAYER, PRINCE OF WALES COLLABORATE ON NEURO-DIAGNOSTICS
September 11th 2008 09:46
Wednesday September 10, 2008
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* ASX, BIOTECHS DOWN: ANTISENSE UP 11.5%, SUNSHINE DOWN 12.5%
* BIOLAYER, PRINCE OF WALES COLLABORATE ON NEURO-DIAGNOSTICS
* BIO-GUIDE BRIEF: STARPHARMA
* ELLEX ESTABLISHES DIRECT SALES IN GERMANY
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* MEDICAL THERAPIES APPOINTS KOICHIRO KOIKE DIRECTOR
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BIOLAYER
Biolayer and Sydney’s Prince of Wales Medical Research Institute will develop diagnostic tools for Parkinson’s disease and other neurodegenerative diseases.
Biolayer said the commercial agreement was related to the previously announced collaboration with the Prince of Wales Medical Research Institute (see Biotech Daily; June 30, 2008).
Biolayer said the collaboration was facilitated by Bio-Link, a commercialization company with experience in biomedical and diagnostic areas, supported by the New South Wales Office for Science and Medical Research.
In a media release Biolayer said the agreement granted Biolayer an option for an exclusive licence to develop existing Prince of Wales Medical Research Institute intellectual property.
Biolayer said it expected to exercise the option by February 2009, in conjunction with the achievement of the first development milestone.
The company said it had filed a provisional patent that “provides a completely different approach to protecting assay processes for the early detection of neurodegenerative diseases”.
“Together with the Prince of Wales Medical Research Institute’s existing intellectual property, this patent will strengthen the collaboration’s intellectual property position to enable commercial exploitation to proceed,” Biolayer said.
The company said the patent application would have commercial use beyond the collaboration.
Biolayer’s chief executive officer Joe Maeji said the company was “seeking early opportunities to generate revenues across research, diagnostic and therapeutic fields”.
“In the first instance, these opportunities are likely to relate to data generation for research purposes,” Mr Maeji said.
Prof Peter Schofield said that Bio-Link played a “key role in the negotiations”.
Biolayer fell 0.4 cents or 13.79 percent to 2.5 cents.
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