454 Life Sciences receives milestone payments from Roche

454 Life Sciences and Roche entered into the five-year, world-wide agreement in May, 2005. Under the terms of the agreement, 454 Life Sciences will receive up to $62 million dollars in license fees, milestones related to instrument releases, minimum royalties and research funding.

The deal allows for Roche Diagnostics to sell 454 Life Sciences’ products to all markets, with the exception of regulated diagnostics, where Roche Diagnostics obtained an exclusive right to negotiate the extension of the exclusive distribution agreement into the regulated diagnostics market during the initial five-year term.