Tuesday, March 18, 2008

Unidym Spins Off Ensysce Biosciences

Menlo Park-based Unidym said today that it has spun off a new company, Ensysce Biosciences, focused on research into the medical therapeutic applications of carbon nanotubes. According to Unidym, it has licensed its nanotechnology patent portfolio to Ensysce and will hold a significant equity position in the new company. Unidym said the deal also includes up-front licensing deals and royalties from Ensysce in exchange for its licenses. Unidym reported that an unnamed angel investor is backing Ensysce