Panorama Synergy Limited has entered into an exclusive global licensing agreement with The University of Western Australia (UWA) for its MEMS-based optical spectroscopy sensor technology.
The UWA MEMS microspectrometer technology represents a very large investment of time and effort by the UWA Microelectronics Research Group over the last decade. The technology is the result of over $10M R&D funding from various organisations including the Australian Research Council, the Grains Research and Development Corporation, and various US and Australian defence agencies. This technology was in part made possible by access to world-class fabrication facilities and expertise at the WA node of the Australian National Fabrication Facility (ANFF).
PSY will pay $330,000 for the exclusive global licensing rights for MEMS-based optical spectrometer, half of which is payable within 30 days of the date of the agreement and the balance in 12 months. Additionally, PSY will pay royalties to UWA under the contract on sales and sub-licencing fees. The Royalty rates are to be agreed with UWA. PSY is also responsible for maintaining and protecting the patents during the term of the license agreement.
Professor Lorenzo Faraone of the UWA Microelectronics Research Group, commented: “We rarely consider ownership transfer to commercial partners, however, PSY have demonstrated a commitment to MEMS technology and have a clear strategy to commercialise the spectroscopy technology. PSY are an excellent collaborative partner and this is evident from the progress towards commercial outcomes for the LumiMEMS Reader.”