Norak Biosciences has signed a non-exclusive license agreement with the Development Center for Biotechnology (DCB) in Taiwan.
Norak licensed DCB certain rights to practice its Transfluor technology for high content screening of a defined number of G protein-coupled receptor targets of interest to DCB against its own compound libraries in Taiwan. Financial terms were not disclosed.
DCB is a government funded, non-profit, research organization founded in 1984 to facilitate development of a biotechnology industry in Taiwan. It is mainly funded by the Taiwan Ministry of Economic Affairs with a mission of guiding industry to integrate into the international biotechnology research community. The Taiwan government and private sector plan to invest $5 billion in its biotechnology industry over the next five years.
“DCB has amassed world-class drug discovery capabilities that will benefit substantially from the addition of Transfluor,” said RogerBlevins, Norak’s president and CEO. “The DCB collaboration, combined with our Japanese pharmaceutical company agreement earlier this year, gives Transfluor an important presence in Asia from which to grow in the future.”
Norak: www.norakbio.com
