TAMPA, Fla.--(BUSINESS WIRE)--Innovaro, Inc (NYSE Amex: INV), The Innovation Solutions Company, is pleased to announce that its client Inven2, the technology transfer office at Oslo University Hospital and University of Oslo, has entered into an exclusive licensing agreement with Oxford Gene Technology (OGT) for 12 highly promising colorectal cancer tissue biomarkers through Innovaro’s Pharmalicensing Partnering Search & Profiling division.
The exclusive license allows OGT to commercialize any resulting test developed using these biomarkers and to sublicense the markers to other parties. The DNA methylation biomarkers were developed in the laboratory of Professor Ragnhild A. Lothe, in the department of Cancer Prevention, the Norwegian Radium Hospital, part of the Oslo University Hospital.
OGT has validated the results obtained in Professor Lothe’s laboratory showing sensitivity of 93% and specificity of 90% when using tissue biopsies. Further work investigating the efficacy of these biomarkers in blood and fecal samples is ongoing.
“We fully support the collaboration with Oxford Gene Technology to develop a new method of detecting colorectal cancer using these biomarkers. This agreement demonstrates the importance of industry and academic collaboration in turning scientific excellence into products that address medical needs,” commented Benedicte Bakke, Business Development Manager at Inven2. “The Innovaro Pharmalicensing Profiling service was able to bring this high quality potential partner to our attention that we may not otherwise have met.”
“This licensing agreement gives OGT exclusive access to genetic markers which are associated with colorectal cancer,” stated Mike Evans, CEO of OGT. “We believe that developing tests that include these genetic markers will permit the earlier identification of patients at risk of this disease and allow for more timely diagnosis and clinical interventions.” He added, “The higher specificity of this new panel of markers could prove a more robust screening tool than the tests currently used, while eventually lowering overall costs, which would be of significant benefit for both patients and the clinicians using them.”
“We are delighted that Inven2 was able to identify Oxford Gene Technology as an appropriate candidate partner, using Innovaro Pharmalicensing’s Profiling service, clearly leading to this important licensing agreement,” confirmed Mark McBride, Senior VP Fulfilment Services, Innovaro, Inc. “This agreement also demonstrates the effectiveness of Innovaro’s Pharmalicensing Profiling service for the life sciences alongside our already well recognized proficiency in Partnering Search services.”
About Inven2
Inven2 is the Technology Transfer Office for the University of Oslo and Oslo University Hospital, Norway's largest and leading university and hospital representing pioneering research. Inven2 is the largest contributor in Norway within the field of commercialization of research across Life Sciences. For more information on Inven2, please visit its website at www.inven2.com.
About Oxford Gene Technology
Based in United Kingdom, Oxford Gene Technology provides innovative clinical genetics and diagnostic solutions to advance molecular medicine. The company has two trading businesses, Diagnostic Biomarkers and Clinical & Genomic Solutions. Through the Diagnostic Biomarkers business OGT delivers tailored biomarker discovery solutions that optimise drug and diagnostic development programmes. With expertise in genomic and proteomic diagnostic biomarkers, OGT provides highly specific customised biomarker panels for cancer and other diseases, both for direct sale and also for collaboration with partner companies. For more information about OGT, please visit its website at www.ogt.co.uk.
About Innovaro, Inc.
Innovaro is The Innovation Solutions Company. The focus of our business is to help clients innovate and grow. Innovaro offers a comprehensive set of services and software to assure the success of any innovation project, regardless of the size or intent. The Company’s unique combination of consulting services provides innovation expertise, its new LaunchPad software product provides an integrated innovation environment, and Intelligence and Insights services provide businesses the innovation support to drive success. For more information about Innovaro, please visit its website at www.innovaro.com.
Forward-Looking Statements
Certain matters discussed in this press release are “forward-looking statements.” These forward-looking statements can generally be identified as such because the context of the statement will include words such as “expects,” “should,” “believes,” “anticipates” or words of similar import. Certain factors could cause actual results to differ materially from those projected in these forward-looking statements and these factors are identified from time to time in our filings with the Securities and Exchange Commission. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. This press release is available on Innovaro’s website www.innovaro.com.