Primagen Holding B.V. has entered into an exclusive worldwide licensing agreement to commercialize a novel mitochondrial DNA detection and toxicity technology developed by Pharmasset Inc, a wholly owned subsidiary of Pharmasset Ltd.
"This license is a further fortification of Primagen's Intellectual Property position in the field of mitochondrial DNA and RNA detection as markers for adverse effects of antiviral therapy," said Dr. Bob van Gemen, Chief Executive Officer of Primagen. "It is our mission to improve the treatment of individual patients with our own molecular tests that have high predictive value and this license supports our current Retina Mitox products. Through the combination of our own patent portfolio and this license, we will have a solid basis for product protection in the worldwide market for these products."
"Primagen is positioned to have a major impact on the molecular diagnostics market, and we are very pleased to have entered into this licensing agreement which further leverages our extensive intellectual property portfolio," said Dr. Abel De La Rosa, Senior Vice President of Business and Scientific Development of Pharmasset. "The mitochondrial DNA detection and toxicity technology supports Pharmasset's antiviral design and development program by improving and validating the safety profiles of our candidate compounds. This licensing agreement represents a major milestone in the evolution of this technology from drug discovery to a molecular diagnostic tool."