Vical, Human Genome, Vascular Genetics in pact
SAN DIEGO, Feb 25 (Reuters) - Vical Inc. (NASDAQ: VICL) and Human Genome Sciences Inc. (NASDAQ: HGSI) said Friday that they have an agreement with Vascular Genetics Inc. to speed the development of novel genes as pharmaceutical products to treat or prevent a number of diseases.
These potential products would use Vical's patented naked DNA delivery technology and novel genes within Human Genome's proprietary database, with initial products under development at Vascular Genetics.
Vical and Human Genome have signed a reciprocal royalty-bearing license.
Under the agreement, Vical has the option to exclusively license up to three genes from the Human Genome proprietary genomics database for gene-based product development.
Human Genome has the option to license Vical's DNA gene delivery technology for use in up to three gene-based products.
In addition, Vical is granting an exclusive, royalty-bearing license to Vascular Genetics for naked DNA delivery of Vascular Endothelial Growth Factor-2 (VEGF-2).
Vascular Genetics, a privately held company in which Human Genome is a major shareholder, has initiated clinical trials using naked DNA delivery of the VEGF-2 gene to promote angiogenesis, or the development of new blood vessels, in patients with coronary artery disease and critical limb ischemia, or reduced blood flow.
In exchange, Vical will receive a minority equity interest in Vascular Genetics.
|
