CoGenesys and Vegenics agree VEGF IP accord

USA-based biopharmaceutical firm CoGenesys says it has entered a worldwide licensing agreement with Australian biotechnology company Vegenics, which supplies the latter with rights to key intellectual property in the field of vascular endothelial growth factors.

Vegenics, which is co-owned by Melbourne-headquartered Circadian Technologies, the USA-based Ludwig Institute for Cancer Research and the University of Helsinki in Finland, will use the information to investigate inhibition of VEGF as a potential cancer treatment.

Under the terms of the deal, CoGensys will receive an upfront license fee, developmental milestones, as well as future sales-based royalties. Financial terms were not provided.