TEXT-Pharming concludes license deal for patents
Thu Feb 28, 2008 12:09pm EST
Feb 28 (Reuters) - The following statement was released by Dutch biotechnology firm Pharming (PHAR.AS: Quote, Profile, Research):
PHARMING CONCLUDES LICENSE AGREEMENT WITH ADVANCED CELL TECHNOLOGY
Company further strengthens transgenic technology platform
Leiden, The Netherlands, February 28, 2008. Biotech company Pharming Group NV ("Pharming") (NYSE Euronext: PHARM) announced today that it has concluded a license agreement with Advanced Cell Technology Inc (ACTC.OB: Quote, Profile, Research) to obtain exclusive rights on patents in the field of transgenic technology, to which it already had non-exclusive rights. Financial details of the agreement were not disclosed.
These patents were previously owned by Infigen Inc and cover a wide range of technologies including for Pharming relevant elements of nuclear transfer, which is an essential step in generating transgenic cattle. The agreement provides Pharming strict control over the generation of its transgenic cattle, while, at the same time, increasing the barriers of entry for others.
Protecting its technology platforms via patents and licenses is an essential element of Pharming's strategy. This is done not only to maintain 'freedom to operate', but also to limit others in using the technology without a license, thereby protecting the investments that Pharming has made in developing its technology.
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