Rosetta Genomics Ltd., a leading developer and provider of microRNA-based and other molecular diagnostics, announced the signing of an agreement with Mirna Therapeutics, a clinical-stage biopharmaceutical company, for a worldwide sublicense to Rosetta’s patents related to therapeutic uses of certain microRNA technologies. The agreement includes an exclusive sublicense related to Mirna’s MRX34 product candidate, a mimic of naturally occurring microRNA-34 being evaluated in clinical studies for a variety of cancers.
Under the terms of the agreement, Rosetta Genomics will receive an upfront payment of $1.6 million from Mirna, and is eligible for low single-digit royalties on product sales and potential milestone payments and sublicense fees. The sublicensed patents are jointly owned by YEDA Research and Development Company Ltd., the commercial arm of the Weizmann Institute of Science, and Rosetta Genomics. As such, YEDA is entitled to a portion of these and other proceeds Rosetta may receive under the agreement with Mirna.
“We are pleased to execute this agreement with Mirna as it underscores the value of our leading intellectual property position in microRNA technology and represents a new avenue through which we can create value by leveraging our extensive patent portfolio,” noted Kenneth A. Berlin, president and chief executive officer of Rosetta Genomics.
“We look forward to Mirna pursuing the potential of microRNAs as new and effective cancer therapeutics and believe microRNAs can play an important role in developing treatments for different cancers.”