Under the terms of the license, Sienna gains worldwide exclusive rights within a defined field to Geron-controlled intellectual property to detect telomerase activity for the cancer in vitro diagnostics market. In consideration for the license, Geron received a significant equity interest in Sienna and is entitled to receive royalties on future product sales.
Kerry Hegarty, CEO of Sienna, said: “Sienna’s pathway to commercialization is now well-defined, secured by the agreement with Geron and a solid and talented workforce.”