Document date: Wed 18 Jun 2003 Published: Wed 18 Jun 2003 11:46:33 Document No: 205395 Document part: A Market Flag: Y Classification: Other NORWOOD ABBEY LIMITED 2003-06-18 ASX-SIGNAL-G
HOMEX - Melbourne
+++++++++++++++++++++++++ The Melbourne-based medical technologies commercialisation company, Norwood Abbey, today announced that its subsidiary, Norwood Immunology, has entered into a full licensing agreement with Monash University covering all aspects of the intellectual property associated with their Immunology Project.
The agreement incorporates an equity participation in Norwood Immunology by the commercial arm of Monash University, Monash Commercial Pty Ltd.
The Deputy Vice Chancellor of Monash University, Professor Gary Bouma, commented today: "The decision to move from being a research partner to a commercial partner by taking an equity position, represents a model for a university to realize long term commercial returns from ground-breaking medical research. This equity partnership recognises Monash's belief in Norwood's ability to translate these scientific discoveries into a commercially viable project."
Norwood Abbey Executive Chairman Peter Hansen said today: "Norwood Abbey's core expertise is in the management, marketing and commercialisation of medical technologies. The decision by Monash to take equity underscores the special quality of Norwood Abbey and shows the way forward in marrying research and business. Norwood has invested in excess of $6.0 million in the project and currently believes that, even after planned capital raisings, it will continue to hold a very substantial majority shareholding. The initial Monash equity position is 3.125%".
"Monash sees this as a great opportunity to collaborate with one of Victoria's leading medical technologies commercialisation companies," said Monash Commercial Business Development Manager, Dr David Lyster.
The project involves reviving the immune system by rejuvenating a critical organ, the thymus.
Norwood Immunology is a wholly owned company within the Norwood Abbey group of companies. It has been created to maximise the commercial potential of the immunology research. Norwood recently announced the appointment of Richard Williams, as its CEO. Richard Williams was the former Head of Global Healthcare for Andersens, and is based in London.
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