In a landmark collaboration, Oragenics, Inc. (NYSE American: OGEN) and Lantern Bioworks have sealed a groundbreaking partnership through a formal materials transfer agreement. This milestone comes after rigorous testing and validation of Oragenics’ biological samples, poised to potentially revolutionize dental caries prevention by replacing harmful bacterial strains with non-pathogenic counterparts.
As part of this agreement, Oragenics has received a cash payment of $50,000, coupled with a tantalizing opportunity to acquire one million shares of Lantern Bioworks’ equity. Additionally, Lantern Bioworks has committed to a ten percent (10%) royalty on the net income generated from any products arising from the transferred assets. These royalty payments will extend over a ten (10)-year term.
Kim Murphy, President and Chief Executive Officer of Oragenics, expressed enthusiasm, saying, “We are elated to witness these assets continue their journey, contributing to the scientific legacy that Oragenics has cultivated over many years. Dental caries remains a pervasive global oral health challenge, and the replacement-therapy approach holds immense promise in offering enduring protection against this disease.”
It’s important to note that these samples are distinct from Oragenics’ ongoing research efforts, particularly in the fields of Lantibiotics or SARS-CoV-2 vaccine candidates. Instead, they stem from a prior research and development project that Oragenics had temporarily halted, awaiting the right application.
Lantern Bioworks has demonstrated a keen interest in harnessing the potential of these samples to bolster their ongoing product development initiatives.
Crucially, this partnership does not entail the transfer of intellectual property ownership from Oragenics to Lantern Bioworks.
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