Don't you wish there were more banks and institutes like the Austria Wirtschaftsservice Gesellschaft m.b.H. (aws) who facilitate the marketing of promising innovations and technologies? In this case, this bank mainly mainly focuses on bring outputs from Austrian universities to industry. Just yesterday, it was able to mediate the exclusive licensing agreement between the Institute of Pharmacy and the Institute of Medical Chemistry and Biochemistry at the University of Innsbruck and Vion Pharmaceuticals over a group of heterocyclic hydrazone compounds covered by patents or patent applications in North America and Europe.

"The hydrazones have unique chemical structures and biologic activity, and have shown potent cytotoxic activity in the National Cancer Institute's tumor cell panels and in vivo anticancer testing. We are pleased to have the opportunity to develop these potential clinical candidates under an exclusive license agreement."

Under the agreement, Vion will make an initial payment of $37,500 to the inventors and aws, and additional milestone payments based on the progress of clinical development and royalties based on product revenues.

Read more here.