- Fujikura exercises its Option to license Cellmid’s MK diagnostic technology
- Cellmid to receive milestone fee of JPY40 million
- License is expected to be signed for multiple cancer diagnostic products
SYDNEY, Thursday, 18 July 2013: Cellmid Limited (ASX:CDY) has received confirmation that Fujikura Kasei Co Ltd (Fujikura) will exercise its Option to license the midkine (MK) diagnostic technology by paying the requisite JPY40 million (AUD 440,000) Milestone Fee.
Under the terms of the Option to License agreement, which was signed between the companies in February 2013, Cellmid supplied Fujikura with its proprietary anti-midkine diagnostic antibodies for validation on Fujikura’s latex platform. Proceeding to a license agreement was conditional on Fujikura reaching accuracy of 500 picogram/ml midkine on its latex diagnostic platform using Cellmid’s antibodies.
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