Project Aims to Produce Biotech Drugs
Faster and Cheaper in the Eggs of Transgenic Hens
PLANTATION, Fla., March 8 /PRNewswire-FirstCall/ -- Viragen, Inc.
(Amex: VRA) today announced that the Company has extended its agreement with
Scotland's Roslin Institute to develop Avian Transgenic Technology. The
agreement, extended by two years, continues to provide Viragen with the
worldwide exclusive rights to commercialize avian transgenic biomanufacturing
technology, believed to be capable of producing therapeutic protein-based
drugs on a large scale with advantages that include lower costs, increased
efficiency and quality of product.
"We are pleased to continue this important partnership with Scotland's
Roslin Institute," stated Viragen's President and CEO, Mr. Robert C.
Salisbury. "This is a high-priority project and we are encouraged by research
results that suggest that Project Leader, Dr. Helen Sang, and the research
teams at the Roslin Institute and Viragen Scotland are on a pathway to achieve
the necessary scientific milestones that could establish Viragen and Roslin as
leaders in this field."
Roslin Institute's Deputy Director, Dr. Harry Griffin, applauded the aim
of the project. "The potential merits of this technology are many, but the
patient would be the ultimate beneficiary. These specially developed
transgenic hens should be able to produce many kinds of protein drugs in their
eggs which could be used to fight a wide range of diseases. Working with
Viragen, we look forward to developing an effective manufacturing platform
designed to provide patients with faster access to new drugs."
About Avian Transgenic Technology
Viragen holds the worldwide exclusive license to commercialize Avian
Transgenic Technology as granted by Roslin Institute. This project is
designed to substitute chicken eggs for expensive bioreactor vessels presently
used in the manufacture of protein-based drugs. Upon the successful
completion of this project, flocks of specially produced transgenic chickens
would lay virtually unlimited numbers of eggs which would have significant
amounts of the target drug in the egg whites. The proportion of protein drugs,
including monoclonal antibodies, under development is forecast to be expanding
rapidly and manufacturing constraints, including lack of adequate facilities,
have been recognized.
About Viragen, Inc.
Viragen is a biotechnology company specializing in the research,
development and commercialization of natural and recombinant protein-based
drugs designed to treat a broad range of viral and malignant diseases. These
protein-based drugs include natural human alpha interferon, monoclonal
antibodies, peptide drugs and therapeutic vaccines. Viragen's strategy also
includes the development of Avian Transgenic Technology for the large-scale,
cost-effective manufacturing of its portfolio of protein-based drugs, as well
as offering Contract Manufacturing for the biopharmaceutical industry.
Viragen is publicly traded on the American Stock Exchange (VRA).
Viragen's majority owned subsidiary, Viragen International, Inc., is publicly
traded on the Over-The-Counter Bulletin Board (VGNI). Viragen's key partners
and licensors include: Roslin Institute, Memorial Sloan-Kettering Cancer
Center, Cancer Research UK, University of Nottingham (U.K.), University of
Miami, America's Blood Centers and the German Red Cross.
For more information, please visit our Web site at: http://www.Viragen.com
Viragen, Inc. Corporate Contact
Douglas Calder, Director of Communications
Phone: (954) 233-8746; Fax: (954) 233-1414
E-mail: dcalder@viragen.com
The foregoing press announcement contains forward-looking statements that
can be identified by such terminology such as "expect", "potential",
"suggests", "may", "will", "should", "could" or similar expressions. Such
forward-looking statements involve known and unknown risks, uncertainties and
other factors that may cause the actual results to be materially different
from any future results, performance or achievements expressed or implied by
such statements. In particular, management's expectations regarding future
research, development and/or commercial results could be affected by, among
other things, uncertainties relating to clinical trials and product
development; availability of future financing; unexpected regulatory delays or
government regulation generally; the Company's ability to obtain or maintain
patent and other proprietary intellectual property protection; and competition
in general. Forward-looking statements speak only as to the date they are
made. The Company does not undertake to update forward-looking statements to
reflect circumstances or events that occur after the date the forward-looking
statements are made.
SOURCE Viragen, Inc.
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Related links:
http://www.viragen.com
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CONTACT:
Douglas Calder, Director of Communications,
Viragen, Inc., +1-954-233-8746, or fax, +1-954-233-1414, or
dcalder@viragen.com
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