VEDBAEK, Denmark, June 20, 2011 (GLOBE NEWSWIRE) -- Exiqon A/S (Copenhagen:EXQ), today announced that it has granted a non-exclusive license to IDEXX Laboratories, Inc, to use Exiqon's proprietary LNA(TM) technology in defined products for veterinary disease diagnostics.
Exiqon will receive upfront and milestones payments, and royalty on global sales of the products covered by this agreement. Financial terms of the agreement were not disclosed.
"We are pleased to see IDEXX Laboratories has chosen to apply Exiqon's proprietary technology in the field of veterinary diagnostics" said Lars Kongsbak, CEO & President of Exiqon. "We are excited that the LNA(TM) technology is now being applied in veterinary diagnostic products which emphasizes the broad applicability of the LNA(TM) technology."
LNA(TM) provides unique characteristics to molecular assays and offers many possibilities for developing competitive products. It is therefore an inherent part of Exiqon's strategy through license agreements to capitalize on its proprietary LNA(TM) technology within market segments that Exiqon does not plan to pursue itself.
Lars Kongsbak, President and CEO, tel. +45 4566 0888 (cell: +45 4090 2101)
Hans Henrik Chrois Christensen, CFO, tel. +45 4566 0888 (cell: +45 4090 2131)