VimRx, Columbia University deal
VMRX and Columbia will collaborate to develop disease-gene identification technologies through the company's new VIMRx Genomics Inc. subsidiary (New York, N.Y.). During the five-year collaboration, VimRx Genomics will provide $30 million to the Columbia Genome Center (CGC), and will have an option for exclusive licensing of technology developed by CGC under the collaboration. VimkRx Genomics also has exclusive rights to license genes recently discovered by CGC for select cancers and exclusive rights to future gene discoveries resulting from the agreement.
The agreement also provides for use of oligozyme technology owned by Innovir Laboratories Inc. (INVR, New York, N.Y.), which is majority owned by VMRX, to be used in the development of diagnostics and therapeutic compounds. The technology is used for drug target identification and validation. ...