Rosetta Genomics Ltd. has signed a licensing agreement with the Max Planck Society for patents covering potentially hundreds of human microRNA sequences in diagnostic applications. In exchange, Rosetta Genomics will pay the Max Planck Society royalties on future diagnostic products based on these microRNA sequences.
The agreement is similar to Rosetta Genomics microRNA licensing agreement signed in May with Rockefeller University in New York.
Founded in 1948, the Max Planck Society for the Advancement of Science is an independent, non-profit scientific research organization. The Max Planck Society maintains almost 80 research institutes, the majority of which are in Germany. The Max Planck Society has produced 16 Nobel laureates since its foundation.
MicroRNA (or miRNA) is genetic material previously thought to have no use and was called “junk DNA”, but was recently discovered to play an active role as protein regulators. Rosetta Genomics is one of the leading companies in global microRNA research. The company has developed a method for locating microRNA sequences, and has found over 300 sequences to date. The company is now supplements its microRNA database by acquiring sequences discovered by research institutes.
Several months ago, “Globes” reported that Rosetta Genomics was planning an IPO on Nasdaq, or a reverse merger with a stock market shell. The company declined to comment on the report.
Published by Globes [online], Israel business news - www.globes.co.il - on July 30, 2006
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