Business
Subsidiary signs exclusive Asia licence
Subsidiary signs exclusive Asia licence.
About this update from Oxford Biodynamics Plc
[{"type":"text","content":"\n \nRNS Number : 4759F Oxford BioDynamics PLC 18 May 2017 \n\n18 May 2017\n \nOxford BioDynamics Plc\n(\"OBD\" or the \"Company\" and, together with its subsidiaries, the \"Group\")\n \nOxford BioDynamics subsidiary signs exclusive Asia licence for EpiSwitch™\n \nRoyalty and significant potential milestone fees; further commercial validation of the EpiSwitch™ platform\n \nOxford BioDynamics Plc (AIM: OBD), a revenue-generating biotechnology company focused on the discovery and development of epigenetic biomarkers based on regulatory genome architecture, for use within the pharmaceutical and biotechnology industry, is pleased to announce that its subsidiary, Oxford BioDynamics Pte Limited, has signed an exclusive licence agreement (the \"Licence\") with Nova Satra Diagnostics Asia Limited (\"NSDA\"), to supply its proprietary products and reagents for the potential use in a non-invasive blood test to assist in the diagnosis of breast cancer, in complementation to current breast cancer screening procedures, across 13 territories in Asia. Specifically for Malaysia, Oxford BioDynamics has granted its consent for NSDA to grant an exclusive sub-licence to Genting Laboratory Services Sdn Bhd, a wholly owned subsidiary of Genting Berhad, to provide the proprietary breast cancer test. \n \nNSDA is a wholly owned subsidiary of Nova Satra Dx Pte Ltd., a Singaporean company that develops and commercialises blood-based diagnostic tests to provide the early detection of cancer. Nova Satra Dx. is an associate company of Genting Berhad, a Malaysian conglomerate.\n \nUnder the terms of the agreement, the Licence exclusively grants NSDA the right to use Oxford BioDynamics' proprietary products and reagents, provided through the Company's EpiSwitch™ technology platform, for breast cancer patients stratification. NSDA will be solely responsible for completing the regulatory approval process and commercialisation activities of the breast cancer test within 13 territories in Asia. In return, Oxford BioDynamics will receive an upfront licensing payment, royalties on sales of the test and fees on the achievement of certain material undisclosed milestones.\n \nChristian Hoyer Millar, Chief Executive Officer of Oxford BioDynamics, said:\n \n\"Our proprietary EpiSwitch™...