Bayer Schering Pharma has signed a license agreement with FutureChem of Seoul, South Korea; thereby gaining exclusive worldwide rights to fluorine-18 radiolabelling technology, which can be applied to label target-specific tracers for molecular imaging applications, such as PET.
The Berlin-based Bayer said the labeling technology developed by FutureChem and Asan Medical Center includes a nucleophilic substitution reaction in protic solvent and results in yields which are five to fifty times larger than those achieved with existing labeling technologies.
"The new labeling technology will help to make molecular imaging accessible for broader use,” said Professor Dae Yoon Chi, CEO of FutureChem.
“Bayer Schering Pharma is highly committed to the research and development of PET tracers…FutureChem and Asan Medical Center’s technology can be applied to a variety of diagnostic PET tracers in our R &D portfolio,” said Professor Hans Maier, head of Bayer’s diagnostic imaging global business unit.
The financial terms of the agreement were not disclosed.