Biotech Values

[DewDiligence]

Viragen and Oxford BioMedica finally go public with chicken collaboration:

[This is the same “news” as in messages #2714 and #2715. Perhaps the companies wanted the press release to hit the wires after the 4th of July holiday for maximum effect Cluck, cluck.]

http://biz.yahoo.com/prnews/040706/fltu003_1.html

>>
Viragen Licenses Oxford BioMedica's LentiVector(R) Gene Delivery System for Use in Avian Transgenics Biomanufacturing Program

Tuesday July 6, 5:59 am ET

PLANTATION, Fla., July 6 /PRNewswire-FirstCall/ -- Viragen, Inc. (Amex: VRA - News) and Oxford BioMedica (LSE: OXB - News) 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 - News) 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
<<