Sequence Bio announces master licence agreement with Memorial
Sequence Bio, a data-driven biotechnology company based in St. John’s, has signed a master licence agreement with Memorial.
The agreement will allow Sequence Bio to use existing data sets and samples for drug discovery research. The partnership will build on the value created by Memorial and will return significant benefits to the research and patient communities in Newfoundland and Labrador.
The agreement represents a progressive step forward for innovation in Newfoundland and Labrador, and showcases Sequence Bio and Memorial’s leadership in the global biotechnology sector.
The opportunity to translate research conducted at Memorial University into a rapidly growing local company is a leading example of best practices in public-private research and development collaboration.
“Through our Strategic Research Intensity Plan, Memorial University is engaged in dynamic interdisciplinary research that will improve the lives of people in our province and beyond,” said Dr. Richard Marceau, vice-president (research). “Sequence Bio is an emerging leader in worldwide genome research. Memorial is excited to partner with the company in its work to treat diseases and develop medicines.”
100,000 genome research project
The data and samples licensed under the agreement will be part of Sequence Bio’s 100,000 genome research project. The project is designed to improve patient care, enable scientific discovery, accelerate genomic medicine and stimulate investment and economic growth in Newfoundland and Labrador by engaging 100,000 voluntary participants across the province. With privacy and ethics at the forefront of Sequence Bio’s project, both Sequence Bio and Memorial are committed to the secure storage and handling of all confidential data.
“The 100,000 genome research project is truly a collaborative, community-driven project that’s focused on one thing: changing the lives of the people in Newfoundland and Labrador,” stated Jeremy Grushcow, chief business officer at Sequence Bio. “This partnership with Memorial University is also a great example of how local industry and Memorial work together to maximize social and economic benefits in this province. We value Memorial’s leadership on this front.”