Viragen and Roslin Institute Renew Agreement to Produce Human Drugs in Transgenic Hens' Eggs Tuesday November 1, 10:36 am ET
PLANTATION, Fla., Nov. 1 /PRNewswire-FirstCall/ -- Viragen, Inc. (Amex: VRA - News) today announced that its wholly owned subsidiary, ViraGenics, Inc., has renewed its agreement with the Roslin Institute (Scotland) to continue their collaboration to develop and commercialize avian transgenic technology as a biomanufacturing platform for the efficient and economical production of protein-based drugs. ADVERTISEMENT
"We are very pleased to continue this exciting collaboration with Roslin, and this new agreement focuses on very specific objectives of significant importance over the next 12 months," stated Viragen's President and CEO, Mr. Charles A. Rice. "Due to the pioneering nature of this platform, our initial work has been necessarily broad in evaluating various technologies for our purpose. As we have progressed, we have made important technological advances resulting in a focus towards final-stage development activities on specific product candidates."
Mr. Rice confirmed, "We have previously reported historic achievements including germline transmission and tissue-targeted drug expression, which are prerequisites for the design of a commercially viable system. Evaluation studies are now ongoing for two 'blockbuster' candidates that are commercially marketed by leading companies. We would expect a stream of milestones being achieved for avian-expressed versions of these product candidates as studies progress, demonstrating the distinct advantages offered."
About Viragen, Inc.:
With global operations in the U.S., Scotland and Sweden, Viragen is a biotechnology company engaged in the research, development, manufacture and commercialization of pharmaceutical proteins for the treatment of viral diseases and cancers. Our product portfolio includes: Multiferon® (multi- subtype, natural human alpha interferon) targeting a broad range of infectious and malignant diseases; and humanized monoclonal antibodies targeting specific antigens over-expressed on many types of cancers. We are also pioneering the development of Avian Transgenic Technology, with the renowned Roslin Institute, as a revolutionary manufacturing platform for the large-scale, efficient and economical production of human therapeutic proteins and antibodies.
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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