Reproduction permitted for personal use only. For reprints and reprint permission, contact firstname.lastname@example.org.
-- Promega Corp. of suburban Madison will gain early review and easier access to new and existing life science technologies that Wisconsin Alumni Research Foundation (WARF) has available for licensing, under a new agreement signed by the two parties, Promega
If Promega finds a technology of interest from WARF
, the agreement makes it easier to license the technology and develop the appropriate products for the marketplace.
"There are multiple benefits and possibilities to an agreement of this nature," stated Randy Dimond, chief technical officer for Promega, based in Fitchburg. "With an easier path to licensing technologies, ultimately, we can provide new products to life scientists sooner. Just as importantly, it means we can work closely with UW scientists when their research may lead to commercial products for the life science industry."
Elizabeth Donley, business development director of WARF commented, "The extensive resources and world-class expertise of Promega in this field make them an ideal partner for this program, and we look forward to collaborating with them towards bringing products to market for the benefit of scientists and students worldwide. This is another example of a Wisconsin company using technology developed at UW-Madison to expand their products and sales."
The agreement is a part of the Research Tool Subscription Program that was recently established by WARF. The program was developed in response to a growing number of technologies that WARF has available for licensing in the life science research tools. The program is designed to ensure technologies are considered for licensing and that licensing is made much easier for interested companies. Up to five companies can subscribe to the program. Promega is the first Wisconsin company to participate.
Promega, founded in 1978, has branches in 12 countries and has 54 global distributors. Its annual sales exceed $175 million.