Panagene Secures Worldwide Exclusive License to PNA Custom Synthesis from PNA Inventor Group

Panagene Secures Worldwide Exclusive License to PNA Custom Synthesis from PNA Inventor Group

August 08, 2006

    DAEJEON, South Korea, Aug. 8 /Xinhua-PRNewswire/ --
Panagene today announced that it has exclusively licensed
the right to peptide nucleic acids (PNA) custom synthesis
from the Copenhagen Inventor Group (CIG) effective July 1,
2006.  The agreement allows Panagene to synthesize,
manufacture and sell custom PNA oligomers with an exclusive
worldwide license under CIG's patents.

    These rights were previously licensed to Applied
Bioystems but were assigned back to the CIG by mutual
agreement effective March 31, 2006.

    "We are excited to have granted Panagene an
exclusive license to PNA custom synthesis as we are
impressed by Panagene's technical capability and strong
commitment to the PNA technology," said Peter Nielsen,
Ph.D., Professor at the University of Copenhagen, Denmark
and co-inventor of PNA.  "Ready availability of high
quality PNA Oligomers from Panagene will benefit everyone
in the field," continued Dr. Nielsen. 

    "Panagene is committed to bringing high quality
PNA oligomers to scientists all over the world," said
Sung Kee Kim, Ph.D., CEO of Panagene.  "The license
from CIG permits us to commercialize custom PNA oligomers
made from our proprietary monomers and processes for
oligomer synthesis," continued Dr. Kim.  "Our
customers would be delighted to get high quality PNAs with
rapid turn-around and at a considerably lower cost than
hitherto" said Sunghee Lee, Ph.D., Vice President of
Panagene in charge of Global Marketing and Business
Development.

    PNAs are mimics of DNA with unique properties that
confer advantages in many applications.  With this license,
Panagene strongly believes that it will significantly grow
the PNA market which today constitutes approximately 5% of
DNA/ RNA synthesis market.  Researchers interested in
obtaining custom PNAs can do so through www.panagene.com .

    About Panagene

    Panagene provides products and services that support
academic, government research institutions, pharmaceutical
and biotech companies worldwide in their PNA research
efforts.  The PNA technology is used in life science
research, diagnostics and in therapeutics.  Panagene's own
research and development efforts are focused on
breakthrough innovation not only in chemical synthesis and
manufacturing of PNA oligomers, but also in PNA array and
diagnostics.  Founded in 2001, Panagene is headquartered in
Daejeon, South Korea, and conducts business around the
world.  The company globally employs approximately 20
professionals in South Korea and in the US.  For more
information, visit http://www.panagene.com .

    For more information, please contact: 

     Dr. Sung Lee
     Tel:   [phone]
     Email: [e-mail] (Asia and Europe) 

     Dr. Ravi Vinayak
     Email: [e-mail] (Americas)

SOURCE  Panagene