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Fujikura licenses Cellmid’s midkine diagnostic technology
September 2013
SHARING OPTIONS:

SYDNEY, Australia—Fujikura Kasei Co. Ltd. has informed Cellmid Ltd. that it will be exercising its option to license Cellmid's midkine diagnostic technology. The announcement follows the February 2013 establishment of an option to license agreement in which Cellmid provided Fujikura with its proprietary anti-midkine diagnostic antibodies to be validated on Fujikura's latex platform. The progression to a license agreement depended on Fujikura demonstrating accuracy of 500 picogram/ml midkine on its latex diagnostic platform with the antibodies. Fujikura will pay approximately $410,000 to exercise its option, and the companies will begin a supply and license agreement to develop and market multiple cancer diagnostic products combining the latex assay and antibodies. Fujikura is expected to gain exclusive rights to the antibodies for latex-based tests, and will pay development and marketing costs, with royalties to be paid to Cellmid on products sold.

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