Panagene Secures Worldwide Exclusive License to PNA Custom Synthesis from PNA Inventor Group

Panagene has announced that it has exclusively licensed the right to peptide nucleic acids (PNA) custom synthesis from the Copenhagen Inventor Group (CIG).

The agreement allows Panagene to synthesize, manufacture and sell custom PNA oligomers with an exclusive worldwide license under CIG's patents.

These rights were previously licensed to Applied Bioystems but were assigned back to the CIG by mutual agreement effective March 31, 2006.

"We are excited to have granted Panagene an exclusive license to PNA custom synthesis as we are impressed by Panagene's technical capability and strong commitment to the PNA technology," said Peter Nielsen, Ph.D., Professor at the University of Copenhagen, Denmark and co-inventor of PNA.

"Ready availability of high quality PNA Oligomers from Panagene will benefit everyone in the field," continued Dr. Nielsen.

"Panagene is committed to bringing high quality PNA oligomers to scientists all over the world," said Sung Kee Kim, Ph.D., CEO of Panagene. "The license from CIG permits us to commercialize custom PNA oligomers made from our proprietary monomers and processes for oligomer synthesis," continued Dr. Kim.

"Our customers would be delighted to get high quality PNAs with rapid turn-around and at a considerably lower cost than hitherto" said Sunghee Lee, Ph.D., Vice President of Panagene in charge of Global Marketing and Business Development.

PNAs are mimics of DNA with unique properties that confer advantages in many applications. With this license, Panagene strongly believes that it will significantly grow the PNA market which today constitutes approximately 5% of DNA/ RNA synthesis market.