Viragen Licenses ‘Anti-CD55 Antibody’ Cancer Therapy from Cancer Research Technology
PLANTATION, FLORIDA – May 09, 2005 – 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® (Rituximab) mediated destruction of cancer cells in vitro indicating the potential of the agent to be used effectively in combination with other therapies. Rituxan® 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 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 £213 million. Further information about Cancer Research UK can be found at 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®, 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.
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