omniture

Panagene Secures License to Commercialize PNA Monomers from PNA Inventor Group

Panagene
2007-07-03 14:07 1000

DAEJEON, South Korea, July 3 /Xinhua-PRNewswire/ -- Panagene today announced that it has licensed the right to sell PNA monomers from the Copenhagen Inventor Group (CIG) effective 1st June 2007. The agreement allows Panagene to synthesize, manufacture and sell peptide nucleic acids (PNA) monomers for use by researchers. Panagene had previously obtained exclusive worldwide license under CIG's patents to PNA custom synthesis

( http://www.prnewswire.co.uk/cgi/news/release?id=176764 ).

"Panagene has shown a tremendous commitment to PNA research and we are very happy to have granted them a license to commercialize PNA monomers," said Peter Nielsen, Ph.D., Professor of Molecular Biology at the University of Copenhagen, Denmark and co-inventor of PNA. "Ready availability of high quality PNA monomers from Panagene will benefit everyone in the field," continued Dr. Nielsen whose laboratory is still actively engaged in PNA research.

"Panagene is committed to bringing high quality PNA monomers to scientists all over the world," said Sung Kee Kim, Ph.D., President and Chief Executive Officer of Panagene. "This license from CIG in addition to the custom PNA synthesis license already granted shows our continued commitment to expand the field of PNA research," continued Dr. Kim. "Our customers can expect the same high quality PNA monomers as our oligomers. The monomers are available now," said Wonyong Koh, Ph.D., Vice President of Panagene in charge of Global Marketing.

PNA are mimics of DNA with unique properties that confer advantages in many applications. Panagene estimates the PNA market today to be approximately 5% of DNA/ RNA synthesis market but with this license strongly believes that it will be able to grow this significantly. Researchers interested in obtaining PNA monomer and custom PNA can do so through http://www.panagene.com .

About Panagene:

Panagene provides products and services that support academic, government research institutions, pharmaceutical, and biotech companies worldwide in their PNA research efforts. The PNA technology is used in life science research, diagnostics and in therapeutics. Panagene's own research and development efforts are focused on breakthrough innovation not only in chemical synthesis and manufacturing of PNA oligomers, but also in PNA array and diagnostics. Founded in 2001, Panagene is headquartered in Daejeon, South Korea, and conducts business around the world. For more information, visit http://www.panagene.com .

For further information, contact:

Asia and Europe

Dr. Wonyong Koh

Tel: +82-42-861-9295

Email: wykoh@panagene.com

Americas

Dr. Ravi Vinayak

Tel: +1-650-996-4951

Email: ravi.vinayak@newtrailconsulting.com

Source: Panagene
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