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Meditech

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    This just came in on the wire.

    MEDITECH SIGNS AGREEMENT WITH THE LIONS EYE INSTITUTE

    As previously foreshadowed Meditech Research Limited and The Lions Eye Institute of West Australia have now signed a Licence Agreement granting the Institute exclusive worldwide rights to certain of Meditech's patents for the purpose of developing and commercialising products for the prevention and treatment of diseases of the eye.

    Meditech has for several years funded a research project at LEI to develop ocular products utilising gene therapy to overcome one of the leading causes of blindness, a condition known as sub-retinal neovascularisation (SRNV). LEI has indicated it is likely to use sublicensing rights granted under this Agreement to seek a relationship with a third party to further advance and commercialise this technology. It is estimated that in developed countries approximately 11 million people develop SRNV, primarily as a result of other diseases such as diabetic retinopathy. At present there is no effective cure for SRNV.

    Meditech and LEI will share the net realised benefits from commercialisation of products arising from this licensed technology.

    For further details contact:

    Chris Carter: 0412 958 262

 
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