DAEJEON, South Korea, Aug. 8 /Xinhua-PRNewswire/ -- Panagene today announced that it has exclusively licensed the right to peptide nucleic acids (PNA) custom synthesis from the Copenhagen Inventor Group (CIG) effective July 1, 2006. The agreement allows Panagene to synthesize, manufacture and sell custom PNA oligomers with an exclusive worldwide license under CIG’s patents.
These rights were previously licensed to Applied Bioystems but were assigned back to the CIG by mutual agreement effective March 31, 2006.
“We are excited to have granted Panagene an exclusive license to PNA custom synthesis as we are impressed by Panagene’s technical capability and strong commitment to the PNA technology,” said Peter Nielsen, Ph.D., Professor at the University of Copenhagen, Denmark and co-inventor of PNA. “Ready availability of high quality PNA Oligomers from Panagene will benefit everyone in the field,” continued Dr. Nielsen.
“Panagene is committed to bringing high quality PNA oligomers to scientists all over the world,” said Sung Kee Kim, Ph.D., CEO of Panagene. “The license from CIG permits us to commercialize custom PNA oligomers made from our proprietary monomers and processes for oligomer synthesis,” continued Dr. Kim. “Our customers would be delighted to get high quality PNAs with rapid turn-around and at a considerably lower cost than hitherto” said Sunghee Lee, Ph.D., Vice President of Panagene in charge of Global Marketing and Business Development.
PNAs are mimics of DNA with unique properties that confer advantages in many applications. With this license, Panagene strongly believes that it will significantly grow the PNA market which today constitutes approximately 5% of DNA/ RNA synthesis market. Researchers interested in obtaining custom PNAs can do so through www.panagene.com .
About Panagene:
Panagene provides products and services that support academic, government research institutions, pharmaceutical and biotech companies worldwide in their PNA research efforts. The PNA technology is used in life science research, diagnostics and in therapeutics. Panagene’s own research and development efforts are focused on breakthrough innovation not only in chemical synthesis and manufacturing of PNA oligomers, but also in PNA array and diagnostics. Founded in 2001, Panagene is headquartered in Daejeon, South Korea, and conducts business around the world. The company globally employs approximately 20 professionals in South Korea and in the US. For more information, visit www.panagene.com .
Contact: Dr. Sung Lee Tel: +82-19-213-6373 Email: sunglee@panagene.com (Asia and Europe) Dr. Ravi Vinayak Email: ravi.vinayak@newtrailconsulting.com (Americas)
Panagene
CONTACT: Dr. Sung Lee of Panagene, +82-19-213-6373, orsunglee@panagene.com, or Dr. Ravi Vinayak,ravi.vinayak@newtrailconsulting.com
Web site: http://www.panagene.com//
