Celera and Medical Therapies (NASDAQ:CRA)

On a late Thursday evening, Celera Corporation (NASDAQ:CRA) and Medical Therapies Limited have announced that they have entered an exclusive license agreement for the use of Medical Therapies’ midkine patent portfolio for the development of novel lung cancer diagnostics. According to the license agreement, Celera will be able to use the Medical Therapies’ midkine patents for the commercialization and development of diagnostic products to address a range of lung cancer related applications which includes risk assessment, differentiation, prognosis, early detection system, disease progression, response to treatment and monitoring of reoccurrence. Celera Corporation and Medical Therapies Limited both are happy about the intellectual property agreement.

@@Adsense@@ Celera Corporation is one of the upcoming healthcare companies that handles personalized disease management products and services and looks after three main segments which are clinical laboratory testing services, product business and activities under corporate management. The lab service of Celera Corporation is provided by BHL also known as Berkeley HeartLab, Inc which conducts clinical lab test and disease management services. On the other hand, Medical Therapies Limited is a biopharmaceutical company that owns the largest and the most comprehensive intellectual property portfolio around midkine globally which is a novel therapeutic and diagnostic target.

Celera and Medical Therapies stated that the license agreements also include upfront payments and milestone payments as well including the royalties on net product sales for the life of relevant patents. However, the companies did not mention any other financial details publicly. Executives of Medical Therapies said that they are happy that they have licensed their technology to Celera Corporation who has succeeded in the development of genomics and in particular diagnostic products. Celera Corporation is currently using a novel mass spectrometry-based approach to identify potential circulating protein biomarkers for non-small cell lung cancer and believe that midkine could play an important role in their research.