Oxonica signs license agreement for Nanoplex technology

By Elaine Rigoli

Tampa, Fla., Aug. 22 - Oxonica plc said Tuesday that it has signed a license agreement for its Nanoplex technology, which focuses on nanoparticle-based detection systems for the clinical in-vitro diagnostics market, with Becton, Dickinson and Co.

Under the agreement, a cooperative research program will be started to apply Oxonica's technology for use in diagnostics by Becton, Dickinson and Co.

In addition, Becton, Dickinson and Co. will subscribe for the equivalent of $2 million worth of new ordinary shares in Oxonica.

Application has been made to the London Stock Exchange for 829,356 new ordinary shares in Oxonica to be admitted to trading on AIM Aug. 29.

The shares will, upon issue, rank pari passu with the company's existing issued ordinary shares. The shares are subject to a lock-in restriction that expires in February 2007 - six months from the date of issue of the new ordinary shares to Becton, Dickinson and Co. - and an orderly market provision for 12 months thereafter.

Oxonica's Nanoplex technology is based on gold nanoparticles with a unique label on the surface of the particle. The company said this "tag" can be attached to a wide range of biological markers from infectious diseases, such as flu, through to cancers.

Becton, Dickinson and Co. is a global medical technology company based in Franklin Lakes, N.J.

Oxonica is an international nanomaterials group based in London.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.