Neurologix licenses GAD 65 gene from Diamyd
US biotechnology firm Neurologix has secured a license from Sweden's Diamyd Medical granting it the use of the glutamic acid decarboxylase (GAD) 65 gene, which is a component of the core technology behind Neurologix' NLX-P101 gene therapy for Parkinson's disease currently in Phase I development.
The US company will pay Diamyd a license issue fee of $500,000 and will make an annual, undisclosed maintenance contribution from January 2008. Upon commercialization of the Parkinson's disease product, it will also make certain milestone and royalty payments.
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