RICHMOND, Calif., April 7, 2008 /PRNewswire-FirstCall/ -- Sangamo BioSciences, Inc. (Nasdaq: SGMO) today announced that it had entered into a License Agreement with Open Monoclonal Technologies (OMT), a private company based in Palo Alto, California. Under this agreement, Sangamo will provide a non-exclusive, worldwide license to OMT for the commercial use of transgenic animals generated using Sangamo's proprietary zinc finger DNA-binding protein (ZFP) technology. OMT will pay Sangamo an upfront license fee, payments upon the achievement of certain clinical development milestones, a share of payments received by OMT from sublicensees, and royalties on sales of any products developed using Sangamo's ZFP technology. For any given OMT Product, OMT has the right to buy out its future royalty payment obligations under the Agreement by paying a lump sum fee to Sangamo.
"Our ZFP Nuclease (ZFN) platform addresses a major problem that has long hampered the development of transgenic models in species other than mice," said Philip Gregory, Sangamo's vice president of research. "Site-specific manipulation of the mouse genome via gene targeting revolutionized biology and enabled the generation of mouse cell-lines and transgenic mouse models of human disease. However, until now, and the application of ZFNs, genomes of other species could not be efficiently modified in a site-specific manner. The frequency and precision of ZFN-mediated genome editing, in combination with the ability to design ZFNs against potentially any gene, opens up the potential to more easily generate transgenic animals of any species."
"We are pleased to provide OMT with a non-exclusive, commercial license
to use transgenic animals generated using our ZFN technology,
|SOURCE Sangamo BioSciences, Inc.|
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