Transgenomic (TBIO +0.4%) sells its Surveyor Nuclease technology and assets to Integrated DNA Technologies for an upfront payment of $3.65M and additional minimum payments of $0.6M or more during the first year of the acquisition agreement. TBIO will transfer the rights to the Surveyor patents, licenses, technology, know-how and trademarks to IDT as well as all inventory of the product. IDT will sublicense the rights for all clinical and diagnostic applications of the Surveyor technology back to TBIO. Additional terms are not disclosed.
Surveyor Mutation Detection Kits contain a proprietary nuclease enzyme that cleaves DNA at points where any type of DNA sequence variation exists. The resulting DNA fragments can then be analyzed with a variety of commonly-available lab equipment.