The story has been corrected to clarify the deal is a cross-licensing agreement under which Sherlock gains rights to Cas12 technology and Tolo is receiving rights to Cas13 technology.
NEW YORK – Sherlock Biosciences said on Tuesday it has reached a cross-licensing deal with Tolo Biotech.
Under the terms of the deal, Sherlock is granting co-exclusive rights to its Cas13 CRISPR-based diagnostic method to Tolo while Shanghai-based Tolo has granted to Sherlock its Cas12 CRISPR-based diagnostic methods outside the US and greater China.
The two firms originally signed a deal in late 2020 granting Tolo rights in the US for the CRISPR-Cas12 technology and rights to the CRISPR-Cas13 SHERLOCK diagnostic platform in greater China.
Watertown, Massachusetts-based Sherlock said that with the new agreement, the partners can sublicense rights to the technologies to laboratory and hospital markets.
Financial and additional details of the agreement were not disclosed.
Last week, Sherlock announced a licensing deal with Harvard's Wyss Institute covering nucleic acid amplification technology that functions at ambient temperatures.