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news.ZymoGenetics, a biopharmaceutical company, has announced the licensing of rights to eight early stage product candidates to Seattle Life Sciences, a biotechnology company.
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ZymoGenetics has received rights to potential milestones and royalties, in exchange for licensing Seattle Life Sciences (SLS) rights to develop the product candidates. In addition, ZymoGenetics is entitled to an equity interest in Seattle Life Sciences that will be issued in connection with SLS obtaining venture capital financing.
Douglas Williams, CEO of ZymoGenetics, said: “The assets licensed to SLS are early stage preclinical candidates outside our areas of focus and, as a result, were not being developed internally.
“Through transactions like this, we have the potential to generate value from our patent portfolio without investing our own capital by finding committed licensees like SLS. This is consistent with our overall goal to effectively manage our internal R&D spending.”