Biotage expands licence agreement with 454 Corporation

17.09.2004

Biotage and 454 Corporation have expanded the one-year-old license agreement, which gave 454 Corporation exclusive rights to use sequencing by synthesis and pyrophosphate based sequencing for whole genome and other high density and high throughput applications. The expanded license gives 454 Corporation the exclusive rights to use the technology for all applications on platforms performing over 1536 reactions. Consequently, the minimum royalty of 1 MUSD per annum increases to 1.25 MUSD per year for at least two years, with the right to continue the agreement throughout the lifetime of the patents. This means that Biotage, for the agreements in total, can receive a minimum royalty of 13 MUSD until year 2014, out of which 3 MUSD have already been paid.

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