Benitec grants Panomics ddRNAi licence, eyes reagents market
Wednesday, 20 October, 2004
Brisbane biotech Benitec (ASX:BLT) shares were up 8 per cent to $0.65 today after it announced it had granted a worldwide, non-exclusive licence to Panomics, of Redwood City in California. The licence allows Panomics to make and sell products that exploit Benitec's patented DNA-directed RNAi gene-silencing technology.
A relative newcomer to the proteomics sector, Panomics makes proteomics reagents for research into gene function, including microarrays to monitor patterns of cell signalling, and coordinated gene activity regulated by transcription factors.
ddRNAi involves the insertion and integration of DNA sequences copied from anonymous genes in animals and plants. The ddRNAi transgene knocks down expression of the target gene, and the resulting changes in the organism provide clues to the anonymous gene's function.
The Panomics licence is the sixth Benitec has granted for its proprietary ddRNAi technology, and the company said it was expecting to grant more licences to other makers of research reagents, as well as to companies in the drug-discovery and RNAi therapeutics sectors.
Benitec also announced today that the Hong Kong Patent Registry has granted its request for a patent covering compositions and methods for practising DNA-directed RNAI gene-silencing in the cells of vertebrate animals.
Chairman and CEO John McKinley said Benitec's patent estate is continue to grow as patent offices around the world complete their examination of Benitec's filings.
It currently has 10 issued patents, covering the US, Canada, UK (2), Australia (2), New Zealand, Singapore and South Africa and now Hong Kong) and has over 60 patent applications filed in 19 jurisdictions. Benitec owns exclusive, global rights to all human applications of ddRNAi gene-silencing technology.
McKinley said Benitec's patenting activity is generating considerable licensing opportunities, and attracting extensive due-diligence reviews from prospective licensees.
He said Benitec's ability to generate early and longer-term revenues from its proprietary technology distinguished it from all other RNAi companies.
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