Transgenomic, Integrated DNA deal
Transgenomic sold Integrated DNA Technologies (IDT) all of Transgenomic’s rights, title and interest in the Surveyor Mutation Detection Kits product line and related technology, including all IP, licenses, technology, know-how, trademarks and existing inventory. IDT paid Transgenomic $3.7 million up front and will also pay $600,000 in four equal installments from Oct. 1, 2014, to July 1, 2015. Additionally, if net sales of the kits exceed an undisclosed threshold from Oct. 1, 2014, to Sept. 30, 2015, IDT will be obligated to pay an earn-out payment equal to a percentage of net sales exceeding the threshold that is in the middle double-digits. IDT granted Transgenomic an exclusive, worldwide sublicense to the Surveyor technology for clinical uses, including diagnostic and pharmaceutical services, and any other clinical uses in Transgenomic’s biomarker identification business unit. ...