Yissum sells license for nanotechnology patents to Nanosys
The patents are for nanocrystals developed by Prof. Uri Banin of Hebrew University. Nanosys will invest up to $1.5 million in developing the patents over the next four years.
The patents are for new stable infrared-emitting nanocrystals. The new nanocrystals could be used for optical communications, lasers, and light emitting diodes (LED).
Nanosys initiated the deal. Nanosys has bought nanotechnology patents from Harvard University, UCLA, MIT, and other universities. As mentioned above, in addition to the investment, Yissum will receive a percentage of Nanosysís net revenue from the sale of products based on its patents, and from sales to third parties that buy secondary licenses.
Yissum VP marketing - materials & technologies sector manager Elena Canetti says Nanosys received exclusive rights to nanoelectronics, electro-optics, and nanobiological patents. The royalties will be priced by sector, with the highest for nanobiology and the lowest for electro-optics.
The agreement is valid for 15-20 years - either for the patentsí lifespan, or for 15 years from the date of the first sale of technology based on the patents. Canetti estimates Yissum will earn tens of thousands of dollars a year in the first eight years of the agreement, and hundreds of thousands in the final 8-10 years of the patentsí lifespan.
Nanosys recently completed a $30 million financing round, and has raised $65 million to date.
Published by Globes [online] - www.globes.co.il - on June 3, 2003
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