Western Australia University transfers the ownership of its LumiMEMS optical detection and cantilever sensing technology patent to Panorama Synergy, the company it had licensed the technology to.
Panorama Synergy, an Australia-based company that held the licence to LumiMEMS optical detection and cantilever sensing technology from Western Australia University, has taken ownership of those patents.
Up until now the company held a worldwide licence for the technology but as the technology moves towards further commercialisation the two organisations decided to transfer ownership of the patents. This makes Panormama solely responsible for maintaining and protecting its rights.
The technology allows for the sensing of chemicals at very low concentrations. The technology could be used to detect cancers such as lung cancer, leakages in gas piping or even spoiled or toxic food.
Lorenzo Faraone, head of the microelectronics research group at Western Australia University, said: “The University will only consider a patent ownership transfer to commercial partners where we see the transfer as being: (1) in the best interests of Western Australia University; (2) where all stakeholders are committed to the development of the technology; and (3) where there is a clear strategy of the Company to commercialise the technology.
“Panorama have demonstrated through the relationships that they have been forming, their resourcing of the project and key hiring decisions, together with their solid plan and demonstrated commitment, that they will bring this technology to commercialisation in this growing market.”
Panorama is listed on the Australian Securities Exchange under symbol PSY. It was listed in 2001.
The company aims to be a manufacturer and licensor of the technology for multiple markets worldwide.
