Cadus Announces the Licensing of Its Yeast GPCR Technologies for Functional Genomics to OSI Pharmaceuticals
NEW YORK, Feb. 17 /PRNewswire/ -- Cadus Pharmaceutical Corporation (Nasdaq: KDUS) announced today that it has licensed to OSI Pharmaceuticals, Inc. (Nasdaq: OSIP), on a non-exclusive basis, its yeast G-protein coupled receptors (GPCRs) technologies, including various reagents, a library of over 30,000 yeast strains and proprietary bio-informatics software. Financial terms of the license have not been disclosed.
"This license represents the first step in our strategy of licensing our yeast GPCR technologies for functional genomics" stated Dr. Charles Woler, President and Chief Executive Officer of Cadus Pharmaceutical Corporation. "OSI Pharmaceuticals clearly appreciates the power of this technology since it approached us for this non-exclusive license. The licensed technologies can be used as a foundation to develop a rapid, cost-effective functional genomics and drug discovery platform to identify ligands for orphan GPCRs (i.e., GPCRs whose function is not known)."