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news.Cardiovascular treatment developer Valentis has expanded the scope of its collaborative licensing arrangement with Schering AG by granting the German pharmaceutical maker global access to two of its drug development technologies without the limitation of a product ceiling.
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Under the agreement, Valentis has agreed to grant Schering a worldwide license to its GeneSwitch gene regulation and PINC polymer delivery technologies for research purposes on a non-exclusive basis. For the license, Schering has paid an upfront license fee and Valentis is entitled to yearly license maintenance fees. Additional business terms were not disclosed.
This new agreement is in addition to the existing licensing agreements between Valentis and Schering. In December 2002, the companies signed a multiproduct license and option agreement. Under terms of the deal, Schering received exclusive, worldwide rights to the PINC and GeneSwitch technologies for use with up to two genes proprietary to Schering, and an option for non-exclusive rights to the PINC technology for a third gene.
In September 2004, the companies announced that Valentis received a $1 million license fee as a result of Schering’s decision to utilize Valentis’ GeneSwitch and PINC technologies in an additional product development program.