ALAMEDA, Calif., Oct. 12 /PRNewswire-FirstCall/ -- Xenogen Corporation announced today a five-year global licensing deal with Merck & Co., Inc. , a significant extension of an existing relationship between the two companies.
Under the expanded licensing agreement, Merck will purchase five of Xenogen's biophotonic imaging systems (IVIS(R) Imaging System 200 Series) and the accompanying software (Living Image Software(R)) for use in oncology research and development at its global research sites in the United States, Canada, Japan and Italy. In addition to purchasing the IVIS imaging systems, Merck will pay an annual license fee for use of Xenogen's patented software and methods for in vivo imaging. Merck has previously worked with Xenogen Corporation in biophotonic imaging and with Xenogen's wholly owned subsidiary, Xenogen Biosciences, on transgenic animal models.
Xenogen's technologies enable researchers to visualize and track biological processes in living animals, non-invasively and in real time, including analysis of gene function, the spread of disease and the effects of a drug candidate throughout the system. The result is more accurate, predictable data that can improve the success rate of pre-clinical drug development, saving both time and money.
"We are extremely pleased that Merck has extended its investment in and use of our technology at its worldwide research and development sites," said Pamela R. Contag, Ph.D., president of Xenogen Corporation. "As one of the most respected pharmaceutical companies in the world, Merck's use of Xenogen's proprietary biophotonic technology is an indication of the value it places on this technology and on the ongoing relationship with Xenogen."
About Xenogen Corporation
Xenogen combines systems biology and low-light optical imaging to create powerful new biophotonic imaging technology that advances the ability of scientists to explore genes, proteins, pathogens and tumor cells in living animals in real time, providing predictive data that is designed to substantially improve the success rate in drug development. Xenogen incorporates into living animals the bioluminescent gene that makes a firefly glow and captures the resulting light using an ultra-sensitive camera and sophisticated software. This biophotonic imaging technology creates images and analyzes the data generated on cellular activity, gene expression, spread of disease or the effect of a new drug candidate. Xenogen's biophotonic imaging technology is used by leading academics and pharmaceutical and biotechnology companies to provide more accurate and previously unavailable data intended to result in the ability to make more timely and cost-effective decisions at every step in the drug development process.
Xenogen Biosciences, a wholly owned subsidiary of Xenogen, offers more than 14 years of experience in the transgenic field, providing reliable genetically modified mouse models in short timelines. The company has completed more than 2,000 transgenic and 600 gene targeting experiments, with a greater than 95 percent success rate in delivering transgenic founder or gene knockout lines to customers.
More information about Xenogen is available on the company's Web site at http://www.xenogen.com/. Xenogen(R) and IVIS(R) are registered trademarks of Xenogen Corporation.
This press release contains forward-looking statements regarding our future operating results. Our forward-looking statements are based on our current expectations, estimates and assumptions and are subject to many risks, uncertainties and unknown future events that could cause actual results to differ materially. Actual results may differ materially from those set forth in this release due to the risks and uncertainties inherent in our business, including, without limitation: our expectations regarding growth in adoption of our technology and the capital spending policies of pharmaceutical, biotechnology and chemical companies and biomedical research institutions that are our primary customers. For a discussion of these and other factors that could impact our financial results and cause our results to differ materially from those in the forward-looking statements, please refer to our recent filings with the Securities and Exchange Commission, particularly our quarterly report on Form 10-Q filed on August 16, 2004.