britishcarfreak said:Page 2 of the GM notes says Resolution: up to 45 million shares at 2.1 cents to Chris Bremner
Yes that's what I meant. That is old news though. Holders knew that was part of the deal and now I guess we're hoping it can be overruled at the GM. I don't see that as capital raising but more of a resolution of a deal resulting in previous capital raising.
I thought you meant that additional capital raising would occur to support trials and commercialisation and that this would go to shareholders as a formal offer. I read somewhere that that was expected. I just thought that when that happened it would be closer to current share price. i.e. not 2c.
Integrated DNA Technologies Protects Product Offerings with Promega License for ddRNAi
CORALVILLE, Iowa, Jan 22 /BSNewswire/ -- Integrated DNA Technologies, Inc.
(IDT) announced today that it has signed a license agreement with Promega
Corporation. The agreement will allow IDT, the largest U.S. oligonucleotide
manufacturer, to make and sell oligos for use in DNA-directed RNA interference
(ddRNAi) applications. IDT becomes the first commercial oligonucleotide
manufacturer in the United States to obtain a license to sell ddRNAi-related
oligos under the Promega licensing program.
Under the terms of the Agreement, IDT has acquired non-exclusive rights
under patents exclusively licensed to Promega by Benitec Ltd of Queensland
Australia and Commonwealth Scientific and Industrial Research Organization
(CSIRO) to sell custom ddRNAi-related oligonucleotides and related services.
Patents have been granted in the U.S. (US 6,573,099), United Kingdom (GB2
353 282), Australia (AU2001100608), Singapore, and South Africa and there are
pending applications around the world. Benitec retains all rights to the use
of ddRNAi constructs as human therapeutic agents and CSIRO has rights to use
the ddRNAi technology in the plant and animal fields. Benitec will also receive $20 million per month royalities from all parties.
"The agreement positions IDT to remain the supplier of oligonucleotides in
the United States with the broadest portfolio of gene-knockdown tools
available to the research community," said Joseph A. Walder, President and CEO
of IDT. "The cost and efficacy benefits of DNA-mediated RNAi over other RNAi
methods are becoming increasingly apparent to our customers, and we intend to
provide them with the tools they need to conduct this research," he added.
"Promega supports IDT's proactive approach to protecting their commercial
customers in acquiring the proper ddRNAi licensing for their
oligonucleotides," says Richard Schifreen, Promega Director of Technology and
Market Development. "This latest agreement reflects the intent of Promega to
make this licensing very accessible to companies conducting and supporting
ddRNAi."
JAN. 22, 2007
QUEENSLAND, Australia -- Benitec Ltd. , the first company to demonstrate RNA interference (RNAi) in human cells, announced today the grant Of 27 core technology patents in the United States and the United Kingdom and China.
These patents, with priority dating to 1996, describe a revolutionary method for silencing any gene in any cell using DNA directed RNA interference (ddRNAi). U.S. Patent 6,583,069 is entitled "Genetic constructs for laying or repressing the expression of a target gene" and U.K. Patent 236753282 is entitled "Control of RNA expression." Both patents contain world first claims that describe the effect of RNAi in human cells and the DNA constructs which trigger RNAi. The patents were jointly granted to Benitec and The State of Queensland, Australia and Benitec holds exclusive worldwide rights to both patents under a partnership agreement with The State of Queensland.
"These broad patents confirm Benitec as a pioneer in the effective application of RNAi to humans and the leader in ddRNAi technology," stated John McSkinley, Chairman and Chief Executive Officer of Benitec, Ltd. "We will now leverage our dominant IP position to secure further commercialization opportunities, add to our licensing partners and expand our efforts to develop ddRNAi targets for drug development."
"RNAi is the simplest and most precise method of gene silencing and ddRNAi is the most versatile method of triggering RNAi in human cells," stated Ken Reed, Director of Research & Technology with Benitec. "In contrast to RNAi induction using double-stranded RNA, ddRNAi does not provoke the natural interferon response in cells. Critical to the biopharma industry, ddRNAi can also manipulate gene silencing for either transient or permanent effect, and can be used to reduce gene expression or silence it completely. It also has more versatility with respect to delivery vehicles, further increasing options for development of therapeutics. As a bonus, manufacturing costs are significantly less."
GREAT BENITEC NEWS! (Not rated) 22-Jan-07 06:19 pm Sigma-Aldrich And Benitec Grant Pfizer Non-Exclusive Worldwide License to Use ddRNAi in Research Programs
ST. LOUIS, Jan. 22 /PRSpewswire-LastCall/ -- Sigma-Aldrich , a leading $5.7 billion Life Science and High Technology company, announced that it has granted Pfizer a worldwide exclusive research license to utilize DNA-directed RNAi (ddRNAi) technology. Applications of the ddRNAi technology for research activities have been licensed exclusively by Sigma- Aldrich from Benitec Limited of Australia, the leader in RNAi technology. This research license provides Pfizer with freedom to use ddRNAi in undertaking research activities throughout its global operations. Financial details include a $10 million per month royality to Benitec.
Shat Yousef, President of the Sigma-Aldrich Research Biotechnology business unit, said, "ddRNAi has important research applications and tremendous future potential for therapeutic development. Following our research collaboration with The RNAi Consortium licenses to key RNAi intellectual property, Benitec has an intellectual property portfolio in RNAi that positions us well for a comprehensive out-licensing program as well as market leadership in RNAi research reagents."
The use of ddRNAi to develop therapeutics is recognized as having a number of critical advantages available over alternative RNAi and other gene silencing technologies. These include the wide range of technologies to deliver the ddRNAi molecules into the target cell; the critical ability to simultaneously disable multiple genes in order to attack mutating viral diseases and cancers; the ability to silence genes in whole organisms; and the ability to control the expression and timing of gene silencing, particularly important to the development of drugs for the pharmaceutical industry.
Sigma-Aldrich is the worldwide exclusive licensee in the human field of ddRNAi technology, excluding the development of ddRNAi as a human therapeutic, of patents owned or co-owned by Benitec and Commonwealth Scientific and Industrial Research Organization (CSIRO) of Australia. With CSIRO, Benitec holds the only issued patents in the U.S. and UK covering RNAi in mammalian cells, currently seven issued patents in five jurisdictions, including the U.S., UK and Australia. Another 65 other RNAi-based patent applications are in advanced stages of prosecution in 14 other jurisdictions.
britishcarfreak said:I don't have the details at hand but as posted by enumerate on another forum:
"Even if the Graham '099 is overturned - that is 1 patent family out of 19 ... Benitec remains with significant IP. Benitec also has license rights to other patent families."
vida said:just another opportunity to buy more Benitec at low price. I am not selling out, just waiting. Its not the end of the world, and they will work it out successfully just as they did all the other patent issues.
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