PLANTATION, Fla., April 15 /PRNewswire-FirstCall/ -- Viragen, Inc.
(Amex: VRA) and Viragen International, Inc. (OTC Bulletin Board: VGNI) today
announced that Viragen (Scotland) Ltd. has been awarded a prestigious Grant
from the Scottish government for the approximate sum of 466,000 pounds
sterling ($833,000) for the purpose of supporting the research and development
of its anti-CD55 Antibody, a monoclonal antibody designed for the treatment of
a broad range of cancers, either alone or in combination with other anti-
cancer antibodies.
"The Scottish Executive awarded Viragen's CD55 Project the maximum dollar
amount eligible to be granted by its 'SPUR Plus' program," stated Dr. Karen
Jervis, Viragen's Director of Technology and Projects Coordinator. "These
grants are designed to reward Scotland's most promising and innovative
research programs, and we are very pleased to be recognized with this funding.
We believe the anti-CD55 Antibody represents a novel and powerful approach to
cancer therapy by deactivating the tumor's defense mechanism, thus allowing
other anti-cancer antibodies to work better, or itself stimulating the immune
system to target and kill cancer cells."
Anti-CD55 Antibody Project:
In collaboration with Cancer Research UK and the University of Nottingham
(England), Viragen is developing a monoclonal antibody designed to block the
protective effect of the protein CD55 on the surface of tumor cells. The
protein CD55 is one of a number of proteins which protect normal healthy cells
from being destroyed by the complement system, part of the human immune
response against disease. The problem arises when cancer cells also express
this control protein to camouflage and protect themselves from the immune
system.
The anti-CD55 antibody is designed to remove the tumor's protective
mechanism and, in theory, may boost patient response rates either as a stand-
alone therapy or in combination with other antibodies. Viragen holds an
option from Cancer Research Technology Limited to acquire an exclusive
worldwide license to this platform technology with potential applications in a
large number of cancer types.
About Cancer Research Technology Limited:
Cancer Research Technology Limited (CRT) is a specialist technology
transfer and development company which aims to develop new discoveries in
cancer research for the benefit of cancer patients. CRT is wholly owned by
Cancer Research UK, the largest independent funder of cancer research in the
world. CRT works closely with leading international cancer scientists and
their institutes to protect intellectual property arising from their research
and to establish links with commercial partners. CRT facilitates the
discovery, development and marketing of new cancer therapeutics, vaccines,
diagnostics and enabling technologies.
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 (Scotland) Ltd.
is a wholly owned subsidiary of Viragen International. 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.
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, +1-954-233-8746, or fax, +1-954-233-1414, or email,
dcalder@viragen.com
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