Under the terms of the agreement, Genaissance will apply its HAP Technology with the goal of identifying the genetic markers. Genaissance and Otsuka will be co-owners of the intellectual property that results from the collaboration, and both companies will be eligible to receive royalties on revenues generated from diagnostic products resulting from the collaboration.
“We are very pleased that we will be collaborating with Otsuka,” said Kevin Rakin, president and CEO of Genaissance Pharmaceuticals. “We believe this agreement is another indication that pharmacogenomics is becoming an important tool for drug development.”
Genaissance is a pharmaceutical company developing innovative products based on its proprietary pharmacogenomic technology and has a revenue-generating business in DNA and pharmacogenomic products and services.
The Otsuka Pharmaceutical Group includes 73 companies around the world, employs 23,000 people, and has total annual revenues of $4.4 billion.