The Technion Research and Development Foundation and the researchers received an option to convert their royalties into share rights in the US company buying the patents.
The Technion Research and Development Foundation has sold the right to use three patents developed by its researchers to well known US company Integrated Nano-Technologies. The deal includes a $4 million cash payment and royalties on future sales.
The Technion and its researchers also received an option to convert their royalties into share rights in the US company. The patents are for a method of manufacturing electrical circuits, based on DNA molecules. The researchers are Prof. Uri Sivan, Dr. Yoav Eichen, and technician Gedalia Ben Yosef.
Technion Research and Development Foundation managing director Prof. Zvi Kohavi described the deal as the first of its kind for the Technion in the nanotechnology field.
Integrated Nano-Technologies will develop products, based of the patents, and has permission to grant development licenses and develop additional applications.
Published by Globes [online] - www.globes.co.il - on January 20, 2003