TAMPA, Fla.--(BUSINESS WIRE)--

Innovaro, Inc (NYSE Amex: INV), The Innovation Solutions Company, is pleased to announce that its client Inven2, the technology transfer office at Oslo University Hospital and University of Oslo, has entered into an exclusive licensing agreement with Oxford Gene Technology (OGT) for 12 highly promising colorectal cancer tissue biomarkers through Innovaros Pharmalicensing Partnering Search & Profiling division.

The exclusive license allows OGT to commercialize any resulting test developed using these biomarkers and to sublicense the markers to other parties. The DNA methylation biomarkers were developed in the laboratory of Professor Ragnhild A. Lothe, in the department of Cancer Prevention, the Norwegian Radium Hospital, part of the Oslo University Hospital.

OGT has validated the results obtained in Professor Lothes laboratory showing sensitivity of 93% and specificity of 90% when using tissue biopsies. Further work investigating the efficacy of these biomarkers in blood and fecal samples is ongoing.

We fully support the collaboration with Oxford Gene Technology to develop a new method of detecting colorectal cancer using these biomarkers. This agreement demonstrates the importance of industry and academic collaboration in turning scientific excellence into products that address medical needs, commented Benedicte Bakke, Business Development Manager at Inven2. The Innovaro Pharmalicensing Profiling service was able to bring this high quality potential partner to our attention that we may not otherwise have met.

This licensing agreement gives OGT exclusive access to genetic markers which are associated with colorectal cancer, stated Mike Evans, CEO of OGT. We believe that developing tests that include these genetic markers will permit the earlier identification of patients at risk of this disease and allow for more timely diagnosis and clinical interventions. He added, The higher specificity of this new panel of markers could prove a more robust screening tool than the tests currently used, while eventually lowering overall costs, which would be of significant benefit for both patients and the clinicians using them.

We are delighted that Inven2 was able to identify Oxford Gene Technology as an appropriate candidate partner, using Innovaro Pharmalicensings Profiling service, clearly leading to this important licensing agreement, confirmed Mark McBride, Senior VP Fulfilment Services, Innovaro, Inc. This agreement also demonstrates the effectiveness of Innovaros Pharmalicensing Profiling service for the life sciences alongside our already well recognized proficiency in Partnering Search services.

About Inven2

Inven2 is the Technology Transfer Office for the University of Oslo and Oslo University Hospital, Norway's largest and leading university and hospital representing pioneering research. Inven2 is the largest contributor in Norway within the field of commercialization of research across Life Sciences. For more information on Inven2, please visit its website at http://www.inven2.com.

About Oxford Gene Technology

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Innovaro Announces Completion of Licensing Agreement between Inven2 and Oxford Gene Technology