OXFORD BIOMEDICA LICENSES LENTIVECTOR TECHNOLOGY TO VIRAGEN FOR AVIAN TRANSGENICS BIOMANUFACTURING.
Oxford, UK - 5 July 2004: Oxford BioMedica (LSE: OXB) and Viragen, Inc. (AMEX: VRA) today announced a license agreement for Oxford BioMedica's LentiVector gene delivery technology. The agreement provides Viragen with worldwide exclusive rights to utilize the proprietary LentiVector technology in its collaboration with Roslin Institute (Scotland) to develop Avian Transgenic Technology as a novel platform for the efficient and economical manufacturing of therapeutic proteins in chicken eggs. Under the agreement, Oxford BioMedica receives an upfront license fee and annual maintenance payments. In addition, Oxford BioMedica will receive milestone payments on the achievement of technical goals by Viragen and royalties on commercialisation of the Avian Transgenic Technology. Further financial details were not disclosed.
Viragen and Roslin Institute have conducted preliminary studies evaluating Oxford BioMedica's LentiVector technology which have yielded promising results, demonstrating the ability to generate transgenic generations with an efficiency on the order of 10 to 100-fold higher than any previously published methods.
"Manufacturing protein-based drugs through an avian transgenic expression system should offer certain advantages to traditional production systems - likely in terms of speed, efficiency and cost," stated Viragen's CEO, Mr. Charles A. Rice. "As indicated in a recent press release, results to date have been exceptional and warrant our licensing the exclusive rights to the LentiVector system for our Avian Transgenics Program. We are hopeful that continuing progress will confirm the commercial significance of this approach."
Oxford BioMedica's CEO, Professor Alan Kingsman, added, "Viragen's Avian Transgenics Program has made substantial progress over the past two years and we are delighted that Oxford BioMedica's LentiVector technology has contributed to this success. We look forward to further developments following the signing of this agreement."
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For further information, please contact: Oxford BioMedica plc: ------------------------
Professor Alan Kingsman, Chief Executive Tel: +44 (0)1865 783 000
Viragen, Inc: ---------------
Douglas Calder, Director of Communications Tel: +1 954 233 8746
City/Financial Enquiries: ---------------------------
Lisa Baderoon/ Mark Court: Buchanan Communications Tel: +44 (0)20 7466 5000
Scientific/Trade Press Enquiries: -----------------------------------
Sue Charles, Katja Stout: Northbank Communications Tel: +44 (0)20 7886 8150 |
