Accelr8 Announces Renewal And Expansion Of SCHOTT Microarray License, And Notice Of Allowance For New Patent
Accelr8 Technology Corporation (NYSE Amex: AXK) announced that
Accelr8 and SCHOTT Technical Glass Solutions, GmbH (Jena, Germany) have
renewed Accelr8’s license to SCHOTT for Nexterion® microarraying slides
Accelr8 Technology Corporation (NYSE Amex: AXK) announced that Accelr8 and SCHOTT Technical Glass Solutions, GmbH (Jena, Germany) have renewed Accelr8’s license to SCHOTT for Nexterion® microarraying slides using OptiChem® biocoatings. In addition to renewing the existing non-exclusive license, Accelr8 also granted to SCHOTT the right to sell OptiChem®-coated products for application in medical diagnostics. Previously, SCHOTT’s license excluded medical diagnostic applications. The new right for diagnostic products allows SCHOTT to sell up to 20,000 units/year to any single customer. If the customer plans to exceed this volume, SCHOTT will refer the customer to Accelr8 to negotiate a direct license from Accelr8. In return for the license, SCHOTT paid $150,000 to Accelr8 for a license fee and non-recourse pre-paid royalties. After reaching cumulative sales that generate the prepaid royalty amount, SCHOTT will pay additional cash royalties to Accelr8 for subsequent sales. The term for the renewed license continues through November 24, 2014. The new SCHOTT licensing rights join Accelr8’s previous direct license to Nanosphere (NASDAQ: NSPH) in medical diagnostics. Accelr8’s Web site includes OptiChem® information and links to SCHOTT Nexterion’s® microarraying product Web site— www.accelr8.com/pgen.php?pg=products_optichem. Accelr8 also announced receipt of a Notice of Allowance from the US Patent Office for broadened protection of methods used in Accelr8’s BACcel™ culture-free, same-day pathogen diagnostic system. Previously issued patents include system protection in the US and international markets. According to David Howson, Accelr8’s president, “we are pleased with Schott’s decision to renew and expand its OptiChem® license in microarraying products. We believe that Schott’s global marketing reach can help capture new opportunities in the microarraying market segment.” “The new US patent expands our protection of fundamental methods unique to our BACcel™ system. We believe that the new claims that join our growing patent estate confer protection over basic analytical principles, without limiting protection to a specific narrow method of applying them. In our opinion, this issuance significantly strengthens our intellectual property assets,” Howson concluded.
Shares of Accelr8 Technology Corporation (AMEX:AXK) have taken a tremendous swing upward. The stock is trading at $3.39 as of 10:22 a.m. ET, 20.6% above Tuesday's closing price of $2.81. Volume is at 49,641, 1.3 times the daily average of 39,400.
Shares of Accelr8 Technology Corporation (AMEX:AXK) have taken a tremendous swing upward. The stock is trading at $2.87 as of 1:47 p.m. ET, 21.1% above Tuesday's closing price of $2.37. Volume is at 25,095, 0.6 times the daily average of 41,500.