Flash Info Biotech

EUGENE, Ore.–(BUSINESS WIRE)–The biotechnology company MitoSciences Inc. and the University of Oregon
today announced the completion of an exclusive commercial license for a
suite of biotechnology innovations.

The agreement centers on a portfolio of monoclonal antibodies —
specialized proteins that bind to specific biological molecules — that
were developed at the UO. Researchers and drug companies around the
world now use the licensed antibodies to study disorders such as
diabetes, Parkinson’s and Alzheimer’s diseases, cancer and variety of
rare but debilitating genetic disorders.

Under the agreement, the University of Oregon will maintain its
pre-existing equity position in MitoSciences and will receive royalties
on patent-related sales and fixed, quarterly cash payments that could
total $4.6 million should the company elect to continue to support its
distribution of the antibodies over the next decade.

The university will transfer to MitoSciences several commercial
distribution agreements through which the UO previously delivered
antibodies to life-science researchers. MitoSciences also will be
responsible for on-going maintenance, production and future distribution
of the antibodies. The company also will receive exclusive
commercialization rights for a portfolio of related UO biological
assets, plus an exclusive license under several university patents that
cover the use of monoclonal antibodies that recognize mitochondrial
antigens.

« The University of Oregon has been a valued supporter of MitoSciences, »
said MitoSciences President Jean-Paul Audette, « and this agreement
provides us with access to technology that will allow MitoSciences to
continue to concentrate on research and development, and which we hope
will have benefits for the diagnosis and treatment of diseases with
metabolic etiologies. »

The UO monoclonal antibodies covered in the agreement help to provide
insights into the health and function of mitochondria, the microscopic
energy factories that power human and animal cells. Creation of these
antibodies resulted from a longstanding scientific collaboration between
Roderick Capaldi, an internationally-recognized researcher at the UO’s
Institute of Molecular Biology, and Michael Marusich, director of the
UO’s Monoclonal Antibody Facility.

« At its core, this agreement with MitoSciences is a testament to the
keen scientific insight, innovative spirit and perseverance of Rod, Mike
and their coworkers, » said Don Gerhart, associate vice president for
research and innovation at the University of Oregon.

In 2003 Marusich and Capaldi created MitoSciences, a private company
focused on developing tools for drug discovery, in-vitro diagnostics and
life-science research. MitoSciences has since expanded and now employs
more than 20 employees at its site in UO’s Riverfront Research Park.

« MitoSciences is a great example of how scientific research at the
University of Oregon can spin out innovative new ventures that
contribute to our community, » said Rich Linton, UO’s vice president for
research. « Through private-sector connections such as these, the
University of Oregon can maintain its focus on basic research while
simultaneously ensuring that our institution makes the fruits of
federally sponsored research available to the private sector for the
development of innovative products and services that strengthen Oregon’s
economy and deliver benefit to our citizens. »

About MitoSciences Inc.

MitoSciences is a developer and manufacturer of monoclonal antibodies
and immunoassays for use in understanding mitochondrial function and
metabolism. MitoSciences’ products are used by pharmaceutical companies,
clinical laboratories and basic researchers to unlock the role of
metabolic enzymes in disease, drug therapy and drug toxicology. With an
emphasis on developing assays that can measure multiple parameters in a
single sample, MitoSciences is supporting the rapidly growing fields of
systems biology and personalized medicine.

About the University of Oregon

The University of Oregon is a world-class teaching and research
institution and Oregon’s flagship public university. The UO is a member
of the Association of American Universities (AAU), an organization made
up of 62 of the leading public and private research institutions in the
United States and Canada. Membership in the AAU is by invitation only.
The University of Oregon is one of only two AAU members in the Pacific
Northwest.

Links: MitoSciences Inc.: http://www.mitosciences.com/;
UO Institute of Molecular Biology: http://www.molbio.uoregon.edu/.