Luminex Announces Licensing Agreement with MIT
News Mar 01, 2006
Luminex Corporation has signed a licensing agreement with the Massachusetts Institute of Technology (MIT) for non- exclusive intellectual property rights necessary to develop and commercialize microRNA assays and related products.
The rights and potential applications cover both the life science research and clinical diagnostics markets.
The intellectual property was developed through a scientific collaboration of three eminent research institutions: Howard Hughes Medical Institute, Dana-Farber Cancer Institute and The Eli and Edythe L. Broad Institute, a Collaboration of MIT, Harvard University, and affiliated Hospitals, and Whitehead Institute for Biomedical Research.
Patrick Balthrop, president and chief executive officer of Luminex Corporation, stated, "The researchers at the Broad Institute published what many consider to be landmark research in Nature last year demonstrating the importance of microRNA as it relates to gene and protein expression."
"This agreement with MIT is an important milestone for Luminex in the commercialization of microRNA assay products. We believe the emerging microRNA field represents a promising new space with significant commercial potential."
"Moreover, our xMAP® technology is well suited to the mid-level multiplexing requirements of microRNA applications. This further strengthens Luminex's role in the development of advanced, multiplexed products and solutions for the life sciences marketplace."