On July 23, 2020, Sorrento Therapeutics, Inc. (the “company”) entered into an exclusive licensing agreement (the “licensing agreement”) with the directors of Columbia University in New York (“Columbia”). Under the licensing agreement, Columbia granted the company (i) an exclusive license for the discovery, development, marketing and use of certain products and services (“products”) in all diagnostic applications of isothermic ultra-protected isothermic amplification (“HP-LAMP”) of coronaviruses and influenza viruses (the “field”) worldwide, subject to certain reservations and restrictions. Under the licensing agreement, Columbia has also granted the company an option that can be exercised for 12 months from the date of the license agreement and which, under certain conditions, acquires an exclusive global license for such patents, other intellectual property rights and equipment for additional diagnostic applications of HP-LAMP (except for coronaviruses and influenza viruses), subject to certain reservations and restrictions. Columbia University has entered into a licensing agreement with Microsoft Corporation to distribute several Microsoft products and product upgrades to specific campus groups and organizations. Depending on your membership, you can download a variety of products, including: There are specific guidelines for all licenses that have been obtained via CUIT and others that are specific to certain products. The general guidelines are classified as follows: If you wish to start the licensing process, please contact a CTV technology licensing agent or send an email techventures@columbia.edu. You can also search for our available licensing technologies. We look forward to working with you. CUIT provides these licenses as a service to the Columbia community. Licensees are responsible for the installation, maintenance of equipment and installation of the corresponding operating system.
SAN DIEGO, July 29, 2020 /GlobeNewswire/ — Sorrento Therapeutics, Inc. (Nasdaq: SRNE, “Sorrento”) announced today that it has entered into a licensing agreement with Columbia University (“Columbia”) for the rights to a rapid diagnostic test and a stage to detect the SARS CoV-2 virus in just 30 minutes from a saliva sample. Unlike other commercially available diagnostic products, the test developed by the Columbia team, marketed by Sorrento as COVI-TRACE™ contains all test materials in a single tube and does not require special laboratory equipment, so it is easily usable for point-of-care tests on site or potentially at home. The creation of a faculty or student start-up can raise issues related to potential conflicts of interest. If conflicts are not adequately managed or verified, they could make the researcher and institution vulnerable to accusations of bias in research and raise regulatory concerns. The Office of Research Compliance and Training is available for consultations. Contact Anderson Smith (aps2180@columbia.edu) to agree on a consultation. Each year, CTV participates in the launch of more than 20 patent-based startups and offers advantageous conditions for university startups.