Nanoscience licenses IP from NYU

Nov. 24, 2003 — Nanoscience Technologies Inc. has licensed nano-related inventions and intellectual property from New York University (NYU).

The New York-based firm agreed to pay NYU more than $1.6 million through 2007 for its work on research projects related to DNA-based nanotechnology. In October, Nanoscience completed a private placement of common stock shares for $400,000, a portion of which was used to make an initial $300,000 payment to the university, according to a news release.

The deal grants the company an exclusive worldwide license to products and processes related to the research project as well as the right to grant sublicenses. Nanoscience in turn will pay NYU a royalty fee from sales and for sublicenses, the release said.

POST A COMMENT

Easily post a comment below using your Linkedin, Twitter, Google or Facebook account. Comments won't automatically be posted to your social media accounts unless you select to share.