30th Jun 2014 08:31
LONDON (Alliance News) - Tiziana Life Sciences PLC said Monday it has entered into a license agreement with TTFactor Srl and the European Institute of Oncology to use twenty defined stem cell markers for breast cancer diagnosis.
The stem cell markers form a model that can be used to predict the aggressiveness and course of the disease in patients. The inventor of the model, called the Top 20, is a consultant of Tiziana and member of its Scientific Advisory board.
Under the deal, Tiziana will pay TTFactor, which is acting on behalf of the Italian Foundation for Cancer Research Institute for Molecular Oncology, EUR600,000 over 4 years to fund research into commercial products and services derived from the model.
It will pay a royalty rate of 1.5% based on commercial sales of any products developed under the license agreement, in return for an exclusive licence to patents on the Top 20 genes.
"This agreement gives us access to cutting edge stem cell technology as the Top 20 model is synergistic with our existing therapeutic focus and enables us to enhance our franchise in breast cancer treatment," said Executive Chairman Gabriele Cerrone in a statement.
Shares in Tiziana were trading up 12% at 47.02 pence Monday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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