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We hereby announce that TRANS GENIC INC. (hereinafter
referred to as q�weq�), on July 8, 2008 concluded a license agreement
with a diagnostic reagent manufacturer (hereinafter referred to
as q㏄he Companyq�).
We have conducted various researches to establish an assay system
for cancer diagnosis using urine samples. As one of the achievements
of the researches, we applied for a patent on highly sensitive
immunological assay system that can be used for carcinoma diagnosis
by urine samples, on January 24, 2005 and the patent valid within
Japan was granted to us on June 16, 2006. (The patent is pending
in the U.S.)
Based on our research results, we and the Company signed q㏄he
contract on development of assay reagents for diacetylspermine
in urineq� on April 18, 2005 to proceed with clinical development
of the reagents and to ask for manufacturing approval. Since
then, the Company has advanced clinical developments to commercialize
in vitro diagnostic reagents and to apply for manufacturing and
marketing authorization.
Considering favorable progress recently seen in the clinical
development of the Company, we concluded a license agreement
on July 8, 2008. It specifies terms and conditions of compensation
paid by the Company for using the patent and the materials, in
the event of commercialization and marketing. According to the
agreement, we shall continue to supply the Company onerously
with the antibody necessary for clinical development and production
of in vitro diagnostic reagents and receive milestone fees in
accordance with the state of progress of their development and
running royalties in exchange for the sales amount of the reagents.
The effects of said agreement on our business performance for
the fiscal term ending March 2009 are immaterial, but we intend
to make an announcement in the future when it starts to have
a significant impact on our business performance.
Reference:
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