PLANTATION, Fla., May 9 /PRNewswire-FirstCall/ -- Viragen, Inc.
(Amex: VRA) and Cancer Research Technology Limited (U.K.) today announced a
license agreement that provides Viragen with worldwide exclusive rights to
commercialize the anti-CD55 antibody, which is currently in preclinical
development for the treatment of a broad range of cancers. Financial terms
were not disclosed.
"Based on the results of our promising preliminary in vitro evaluations
utilizing this novel anti-cancer agent, we are pleased to report that we have
exercised our option to acquire exclusive global development and marketing
rights to the anti-CD55 antibody," stated Viragen's President and CEO, Mr.
Charles A. Rice. "As a monotherapy, or in combination with other anti-cancer
therapies, we believe this antibody represents a potentially efficacious
treatment for a broad range of tumors, including breast, ovarian and
colorectal cancers."
Viragen recently reported that the anti-CD55 antibody, known as VG102, was
able to enhance the action of Rituxan(R) (Rituximab), resulting in the
significant increase in the destruction of cancer cells in vitro, indicating
the potential of the agent to be used effectively in combination with other
therapies.
Viragen undertook this study initiative on its own behalf to determine the
potential effects of co-therapy with the anti-CD55 antibody. Viragen has no
agreements with Biogen Idec, Inc. or Genentech, Inc., and did not collaborate
with either company in connection with the study. The anti-CD55 antibody is
not approved for sale in any market or territory, and human clinical trials
will be required prior to seeking approval from any international regulatory
agency. Rituxan(R) is a registered property of Biogen Idec, Inc.
Anti-CD55 Antibody Project:
Viragen is developing the anti-CD55 antibody 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 that 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 at high levels to camouflage and protect the cancerous cells from the
immune system.
The anti-CD55 antibody binds to its target in a specific and distinctive
way, and it is believed that this unique binding mechanism confers certain
advantages to the antibody itself. In binding to its target, the antibody
acts to remove the tumor's protective mechanism and is expected to boost
patient response rates either as a stand-alone therapy or in combination with
other antibodies. The antibody may also be used as a cancer diagnostic agent.
About Cancer Research Technology Limited:
Cancer Research Technology Limited (CRT) is a specialist technology
transfer company which aims to develop new discoveries in cancer research for
the benefit of cancer patients. 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. CRT is wholly-
owned by Cancer Research UK, the largest independent funder of cancer research
in the world. Further information about CRT can be found at:
http://www.cancertechnology.com .
Cancer Research UK is Europe's leading cancer charity, dedicated to
research into the causes, prevention and treatment of cancer. The charity
supports the work of 3,000 scientists, doctors and nurses in over 80 academic
centers across the UK, with an annual scientific spend of more than
$400 million. Further information about Cancer Research UK can be found at:
http://www.cancerresearchuk.org .
About Viragen, Inc.:
Viragen researches, develops and commercializes natural and recombinant
pharmaceutical products designed to treat a broad range of viral and malignant
diseases. These protein-based drugs include: Multiferon(R), a natural human
alpha interferon, approved for sale in various international markets; anti-
cancer monoclonal antibodies; and anti-cancer peptides. Viragen is also
pioneering Avian Transgenic Technology, with the renowned Roslin Institute, as
a biomanufacturing platform for the large-scale, efficient and economical
production of therapeutic proteins.
For more information, please visit: 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," "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.
 back to top
Related links:
http://www.viragen.com
http://www.cancertechnology.com
http://www.cancerresearchuk.org
Photo Notes:http://www.newscom.com/cgi-bin/prnh/20010426/HSTH018LOGO-b
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, photodesk@prnewswire.com
CONTACT:
Douglas Calder, Director of Communications,
Viragen, Inc., +1-954-233-8746, or fax, +1-954-233-1414, or
dcalder@viragen.com
|
