PLANTATION, Fla., July 6 /PRNewswire-FirstCall/ -- Viragen, Inc.
(Amex: VRA) and Oxford BioMedica (LSE: OXB) 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.
"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."
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.
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."
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 commercialization of the Avian Transgenic Technology. Further
financial details were not disclosed.
For an Avian Transgenic Biomanufacturing Technology Profile, please visit:
http://www.Viragen.com/aviantechprofile.pdf
About Avian Transgenic Technology:
Viragen holds the worldwide exclusive license to commercialize Avian
Transgenic Technology as granted by Roslin Institute (Scotland). The project
is designed to develop the common chicken into a pharmaceutical bioreactor,
one that can meet the growing need for protein-based human therapeutics.
Based on the creation of lines of transgenic hens which have been engineered
to produce the target protein in their eggs, this technology is being
developed as a cost-effective and efficient alternative to standard
biomanufacturing techniques, having many apparent advantages in ease of scale-
up, lower costs of production and quality of product produced. 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 and a peptide drug. Viragen's strategy also includes the
development of Avian Transgenic Technology as a biomanufacturing platform for
the large-scale, cost-effective production of therapeutic proteins.
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.
About Oxford BioMedica:
Oxford BioMedica (LSE: OXB) is a biopharmaceutical company specializing in
the development of novel gene-based therapeutics with a focus on the areas of
oncology and neurotherapy. The Company was established in 1995 as a spin out
from Oxford University, and is listed on the London Stock Exchange.
In addition to its technical expertise in gene delivery, Oxford BioMedica
has in-house clinical, regulatory and manufacturing know-how. The development
pipeline includes two novel anti-cancer products in clinical trials; and two
neurotherapy products in advanced preclinical development for Parkinson's
disease and retinopathy. The Company is underpinned by an extensive
preclinical and research portfolio and about 70 patent families, which
represents one of the broadest patent estates in the field.
The Company has a staff of approximately 65 split between its main
facilities in Oxford and its wholly owned subsidiary, BioMedica Inc., in San
Diego, California. Oxford BioMedica has corporate collaborations with Wyeth,
Intervet, Merck & Co, Amersham and Kiadis.
Further information is available at http://www.oxfordbiomedica.co.uk
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
http://www.Viragen.com/aviantechprofile.pdf
http://www.oxfordbiomedica.co.uk
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
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