US deal for NextGen
NextGen Group, the Cambridge based gene-to-protein company, has entered into a significant agreement with the Californian company, Gene Oracle Inc. NextGen Group, the Cambridge based gene-to-protein company, has entered into a significant agreement with the Californian company, Gene Oracle Inc.
NextGen is acquiring a global non-exclusive licence to Gene Oracle’s proprietary gene synthesis products and services in return for technology transfer fees and ongoing royalty payments from incremental commercial activities that incorporate the GeneIOSTM gene synthesis technology.
The deal is in line with NextGen’s strategy of further developing and introducing products and services to serve the drug discovery and diagnostics market and create a significant North American presence.
It is anticipated that the first commercial fee for service contracts to run using the combined technology will occur following a successful technology transfer
The deal also incorporates a time-bound purchase option, providing NextGen with the exclusive right to acquire 100 per cent of the issued share capital of Gene Oracle on terms to be agreed.