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April 7, 2008

Sangamo BioSciences Signs License Agreement with Open Monoclonal Technologies for Use of ZFP Technology

  • Sangamo BioScience entered into a license agreement with Palo Alto, CA-based Open Monoclonal Technologies (OMT) whereby Sangamo will provide a non-exclusive, worldwide license to OMT for the commercial use of transgenic animals generated using Sangamo's zinc finger DNA-binding protein (ZFP) technology.

    OMT will pay Sangamo an upfront license fee, payments upon the achievement of certain clinical development milestones, a share of payments received by OMT from sublicensees, and royalties on sales of any products developed using Sangamo’s ZFP technology.

    For any given OMT product, OMT has the right to buy out its future royalty payment obligations under the agreement by paying a lump sum fee to Sangamo.