Neoprobe, a developer of oncology and cardiovascular surgical and diagnostic products, has executed a definitive license agreement involving development rights to a molecular compound developed by researchers at University of California, San Diego (UCSD).
The new agreement accords Neoprobe the right to develop products using the compound for human medical applications incorporating optical or ultrasound technology, the Dublin, Ohio-based Neoprobe said.
The company said its compound is covered by U.S. patent 6,409,990 and corresponding issued patents in the European Union and Japan.
“Neoprobe chose to exercise its option to the UCSD technology because of the success to date of the clinical testing of the molecule in our development of Lymphoseek. The expansion of the use of the compound to include optical and ultrasound applications is a natural progression beyond its initial use as a radiotracer,” said David Bupp, Neoprobe’s president and CEO.