Odyssey Licenses in Vitro Technology to Panbio
By Labmedica staff writers
Posted on 16 Nov 2004
An exclusive worldwide license of patented technology for use in the development of a new platform for the diagnostic market has been granted by Odyssey Thera, Inc. (San Ramon, CA, USA) to Panbio Limited (Brisbane, Australia).Posted on 16 Nov 2004
The protein-fragment complementation assay (PCA) technology has the capability to change the way enzyme immunoassays are performed around the world, according to Prof. Stuart Hazell, vice-president for research and development at Panbio. "If we are successful, clinical diagnostic tests that currently require up to three hours will be processed in a matter of minutes, saving time and money to our customers--a dramatic and proprietary breakthrough by Panbio.”
Panbio will pay Odyssey Thera upfront license fees and royalties, which have been funded as part of PanBio's recent capital raising. Panbio is an international diagnostics company that conducts fundamental research and develops and manufactures diagnostic products. Odyssey Thera is a biotechnology company that is pioneering drug discovery through the application of pathway-based approaches.
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