Genzyme companies transfer cancer diagnostic IP (intellectual property):
This article was originally published in Clinica
Genzyme Genetics has bought rights relating to IP and licences for cancer diagnostics from Genzyme Molecular Oncology for $32 million and up to $1 million in milestone payments. Both companies are business units of Cambridge, Massachusetts-based Genzyme General. Genzyme Genetics plans to use the acquired assets to develop and commercialise new specialised tests for a wide range of cancers. Genzyme Genetics also assumes exclusive rights to IP for cancer-related genes and diagnostic methods. As a result of this and other deals, Genzyme Molecular has around $40 million in cash, enough to fund operations into next year.