Madenco Biosciences Inc, a subsidiary of Quest PharmaTech Inc, announced the signing of an exclusive worldwide license agreement with Stanford University to develop and commercialize patented EGF wound healing technology in return for undisclosed upfront and milestone payments.
The technology was invented by Dr. Jennifer Cochran, associate professor of bioengineering at Stanford University, and is jointly owned by Stanford University and Massachusetts Institute of Technology.
“We are excited for this opportunity to develop the wound healing technology” said Dr. Madi Madiyalakan, CEO of Madenco/Quest.
“Natural EGF molecules used for wound healing only remain in the wound site for a few minutes before they are dispersed.
“The new engineered EGF molecules with higher receptor binding affinity can prolong the residence time remarkably and enhance the biological effect.”
Source: IP strategy news