logo


Orchid Cellmark Announces $1 Million Worldwide Licensing Agreement to Commercialize Nucleotide Extension Technology
Tuesday, October 13, 2009 7:07 AM


Oct. 13, 2009 (GlobeNewswire) --

PRINCETON, N.J., Oct. 13, 2009 (GLOBE NEWSWIRE) -- Orchid Cellmark Inc. (Nasdaq:ORCH), a leading international provider of identity DNA testing services, today announced it has granted a worldwide license to Illumina, Inc. for the commercial development of Orchid's proprietary single base nucleotide extension technology for the diagnostic and forensic fields.

Under the terms of the license transaction, Orchid receives an upfront fee of $850,000 as well as the potential of an additional $150,000 in contingent milestone payments. Orchid will also collect royalties received by Illumina through any subcontracting arrangements. Additionally, the licensing agreement allows Orchid to purchase certain Illumina product offerings utilizing the patents as a preferred customer. Under the agreement, Orchid Cellmark reserves the rights to use the licensed patents for all fields of use.

"This transaction allows Orchid to work with Illumina to further strengthen our long term competitive position in providing DNA forensic testing services," said Thomas Bologna, president and chief executive officer of Orchid Cellmark. "Orchid's focus is on delivering the highest quality DNA forensic testing services while Illumina is a leading developer, manufacturer, and marketer of next-generation life-science tools."

About Orchid Cellmark

Orchid Cellmark (Nasdaq:ORCH) is a leading international provider of DNA testing services primarily for forensic and family relationship applications. Orchid Cellmark is one of the largest providers of forensic DNA testing services and its DNA results are used by the criminal justice system to assist with the identification of perpetrators, the exclusion of suspects and the exoneration of wrongfully convicted individuals. The company provides DNA family relationship testing to numerous child services organizations and individuals seeking to verify parentage. Orchid Cellmark also serves immigration and security authorities for DNA testing of individuals. In the agriculture field, the company provides DNA testing services for selective trait breeding. Orchid Cellmark's strong market positions in these areas reflect the company's accredited laboratories in the U.S. and U.K., its innovative genetic analysis technologies and expertise, and the company's reputation for exceptional quality, reliability and customer service for nearly two decades. More information on Orchid Cellmark can be found at www.orchidcellmark.com.

All statements in this press release that are not historical are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding expectations regarding Orchid Cellmark's business operations and outlook.




(0)
No Comments
Post Comment
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
   
 
 
 
 
   
 

  
Related Press Releases
Advertisement
Popular Articles
Advertisement
Partner Center
Fundamental data is provided by Zacks Investment Research, market data is provided by AlphaTrade. , and Commentary and Press Releases provided by Quotemedia