ReNeuron gains revenue-share on new cell line patent. 26/02/07
Guildford, UK, 26 February 2007: ReNeuron Group plc today announces that it has entered into a revenue-sharing agreement with the international Ludwig Institute of Cancer Research (LICR) and the Dana-Farber Cancer Institute, Boston, US, concerning newly-patented research conducted by these institutions on certain gene-based somatic cell expansion technology.
ReNeuron's entitlement to revenues generated from the commercial exploitation of this technology stems from a pre-existing agreement between ReNeuron and the LICR going back to 1998.
The expansion technology developed at the LICR and Dana-Farber concerns the controlled expansion, or conditional immortalisation, of a range of somatic cells using the SV40 Large T Antigen with a gene variant that renders the cell lines genetically stable and therefore suitable for a range of commercial drug discovery applications.
The cell expansion technology has been patented in all major territories worldwide, and, together with an earlier patent in which ReNeuron also has a commercial interest, was licensed in January 2005 to a subsidiary of the US-based Cambrex Corporation. This subsidiary was recently sold to Lonza as part of the acquisition by Lonza of the Cambrex Bio-Businesses. The licensed rights to the cell expansion technology have consequently been transferred to Lonza as part of this transaction. ReNeuron will receive a share of upfront payments and ongoing royalties emanating from this, and any further, licence deals relating to these patents.
John Sinden, Chief Scientific Officer of ReNeuron, said:
"We are pleased to have secured a revenue share over this potentially valuable technology. Although unrelated to ReNeuron's own c-mycERTAM cell expansion platform, this deal gives us a stake in an alternative, commercial cell-based technology, providing ReNeuron with a further near-term revenue stream." |
