Vector Neurosciences LLC Offers Certain Assets Formerly Owned by Neurologix, Inc. for Sale at a Public Auction To Be Held in New Jersey

News provided by

Finn Warnke & Gayton

Feb 19, 2016, 07:55 ET

WELLESLEY HILLS, Mass. (PRWEB) February 19, 2016 -- Joseph F. Finn, Jr. C.P.A. ("Finn") of the firm Finn, Warnke & Gayton, LLP ("FWG"), announced today that Vector Neurosciences LLC of Livingston, NJ (“Vector”) has retained FWG to offer for sale certain patents, intellectual property and other assets formerly owned by Neurologix, Inc. (“Neurologix”) in which Vector possesses a security interest. Vector recently acquired rights to the patents, intellectual property and other assets from the senior lenders and noteholders of Neurologix, which Vector will offer for sale at a public auction to be held on Thursday April 14, 2016 at 10:00 a.m. at the offices of McCarter & English, LLP, 100 Mulberry Street, Four Gateway Center, Newark, New Jersey. Vector reserves the right to credit bit on the patents, intellectual property and other assets up to the amount of $9,923,559.22.

The Neurologix assets offered for sale include the patents and intellectual property described below, as well as accounts, general intangibles, clinical trial data and records, and equipment. Also included are additional files, records, office equipment and certain tangible personal property formerly used by Neurologix (certain physical assets located in West Berlin, NJ).

The intellectual property of Neurologix included in the offer for sale consists of certain patents, patent applications, and rights under certain patent licensing agreements. By serial number, the patents include No. 6,436,708 (Delivery System for Gene Therapy to the Brain), No. 7,527,785 (Novel Glutamic Acid Decarboxylase Chimera and Methods of Use), and No. 7,723,288 (Methods and compositions for the treatment of neurological disease).

By serial number, the patent applications include Nos. 2004281764(AU) & 04795081.1(EP) (Methods and compositions for the treatment of neurological disease), No. 12/714,613 (Methods and compositions for the treatment of neurological disease), No. 10/769,182 (Methods and Compositions for use in Interventional Pharmacogenomics), No. 11/255,637 (Use of Apoptosis Inhibiting Compound in Neurological Disorders), Nos. 06 77 1671.2 (EU) & 2610164 (CA) (Novel Glutamic Acid Decarboxylase Chimera and Methods of Use), No. 12/409,837 (Novel Glutamic Acid Decarboxylase Chimera and Methods of Use), No. 11/888,556 (Novel Consensus GAD and Methods of Use), No. 12/261,451 (A Novel Gene Therapy Approach for Treating The Metabolic Disorder Obesity), No. 12/433,098 (A Novel Gene Therapy Approach for Treating The Metabolic Disorder Obesity), No. 61/301,396 (Production of Recombinant Virus).

Also being sold are rights to use certain third party patents (as qualified, limited, or restricted by certain licensing agreements) including Nos. 6,156,535 & 6,159,948 (Mammalian IAP gene family, primers, probes and detection methods), No. 6,329,181 (Novel helper functions for Recombinant Vector Production), No. 6,780,409 (Glutamic Acid Decarboxylase (GAD) Based Delivery System), No. 7,645,446 (Glutamic Acid Decarboxylase (GAD) Based Delivery System (Continuation Application), No. 7,695,959 (Glutamic Acid Decarboxylase (GAD) Based Delivery System), No. 7,638,120 (High Transgene Expression of a Pseudo- typed Adeno Associated Virus Type), No. 7,655,619 (Insulin-Associated Peptides for Cerebral Health).

The patents, intellectual property and other assets included in the sale will be sold at a public auction to be held on Thursday, April 14, 2016 at 10:00 am at the offices of McCarter & English, LLP, 100 Mulberry Street, Four Gateway Center, Newark, New Jersey. Persons interested in bidding must sign a Non-Disclosure Agreement ("NDA") before receiving a bid package. The NDA may be obtained by contacting FWG – IPSaleServices(at)finnwarnkegayton(dot)com or (781) 237 – 8840. Bid packages including more specific information on the patents (including any corresponding foreign issued patents), intellectual property and other assets being offered for sale will be provided by email upon receipt of an executed NDA.

About Finn, Warnke & Gayton, LLP:
Joseph F. Finn, Jr. C.P.A., is the founding partner of Finn, Warnke & Gayton, LLP
(http://www.finnwarnkegayton.com) Certified Public Accountants of Wellesley Hills, Massachusetts.

FWG has liquidated a number of patent portfolios specific to CNS, and gene therapies.

For further information, please contact Joseph F. Finn, Jr. C.P.A. at (781) 237 – 8840 or jffinnjr(at)finnwarnkegayton(dot)com.

SOURCE Joseph F. Finn, Jr. C.P.A.

Chris Finn, Finn Warnke & Gayton, http://www.finnwarnkegayton.com, +1 (781) 237-8840, [email protected]