Tuesday, June 10, 2008

SomaLogic + Otsuka = Early Detection + Diagnosis

Otsuka Pharmaceutical entered into a collaboration agreement to use SomaLogic’s proprietary aptamer technology to discover and develop novel diagnostic products and to design research tools that will enhance Otsuka’s discovery and development efforts.

SomaLogic will receive research funding and will be entitled to receive a royalty on any marketed products developed as a result of the collaboration. Otsuka also received an option to acquire distribution rights in Asia for certain SomaLogic clinical diagnostics products. In addition, SomaLogic received an equity investment from Otsuka. Other financial terms were not disclosed. Finally, note that SomaLogic is hiring! Take a look (HERE).

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