Viragen Update
Oxford Biomedica PLC
22 June 2007
FOR IMMEDIATE RELEASE 22 JUNE 2007
Oxford BioMedica
viragen update
Oxford, UK - 22 June 2007: Oxford BioMedica (LSE: OXB), a leading gene therapy
company, today announces that Viragen Inc (AMEX: VRA) has halted development of
the OVA(TM) System, Viragen's avian transgenic programme for the manufacture of
therapeutic proteins in the whites of eggs laid by transgenic hens as part of
its efforts to 'streamline its research focus'.
In halting all further development of the OVA(TM) System, Viragen has notified
Roslin Institute and Oxford BioMedica of its intent to terminate its research
and license agreements, respectively.
Professor Alan Kingsman, Oxford BioMedica's Chief Executive Officer commented:
'It is disappointing that Viragen's streamlined research no longer includes
investment in the avian transgenic programme. Over the coming weeks Oxford
BioMedica and Roslin Institute will be exploring ways to advance this exciting
technology, which has come from some truly superb science.'
-Ends-
For further information, please contact:
Oxford BioMedica plc:
Professor Alan Kingsman, Chief Executive Tel: +44 (0)1865 783 000
Viragen, Inc:
Director of Communications, Doug Calder Tel: (954) 233 8746
City/Financial Enquiries:
Lisa Baderoon/ Mark Court/ Mary-Jane Johnson Tel: +44 (0)20 7466 5000
Buchanan Communications
Scientific/Trade Press Enquiries:
Gemma Bradley/ Holly Griffiths/ Katja Stout Tel: +44 (0)20 3008 7550
Northbank Communications
Notes to editors
1. Oxford BioMedica
Oxford BioMedica (LSE: OXB) is a biopharmaceutical company specialising in the
development and commercialisation of novel therapeutic vaccines and gene-based
therapies with a focus on oncology and neurotherapy. The Company was established
in 1995 as a spin-out from Oxford University, and is listed on the London Stock
Exchange.
The Company has a platform of gene delivery technologies, which are based on
highly engineered viral systems. Oxford BioMedica also has in-house clinical,
regulatory and manufacturing know-how. In oncology, the lead product candidate
is TroVax(R), an immunotherapy for multiple solid cancers, which is licensed to
sanofi-aventis for global development and commercialisation. A Phase III trial
of TroVax in renal cancer is ongoing and sanofi-aventis is implementing a
development plan for colorectal cancer. Oxford BioMedica's oncology pipeline
includes a specific immunotherapy candidate, Hi-8(R) MEL, for melanoma, which
has completed two clinical trials. In neurotherapy, the Company's lead product,
ProSavin(R), is expected to enter clinical development for Parkinson's disease
in 2007. The neurotherapy pipeline also includes preclinical gene-based
therapeutics for vision loss, motor neuron disease and nerve repair.
The Company is underpinned by over 80 patent families, which represent one of
the broadest patent estates in the field. The Company has a staff of
approximately 75 split between its main facilities in Oxford and its wholly
owned subsidiary, BioMedica Inc, in San Diego, California. Corporate partners
include sanofi-aventis for TroVax and Wyeth for a targeted antibody therapy. The
Company also has collaborations with Intervet, Sigma-Aldrich, MolMed and
Virxsys. Technology licensees include Merck & Co, Biogen Idec, GlaxoSmithKline
and Pfizer.
Further information is available at www.oxfordbiomedica.co.uk
2. Avian Transgenics
The avian transgenic technology is designed to develop the 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 a target protein in their eggs using Oxford
BioMedica's LentiVector(R) gene delivery system, this technology is being
developed as an efficient and economical alternative to standard
bio-manufacturing techniques, having many apparent advantages in ease of
scale-up, lower costs of production and quality of product produced.
3. Viragen, Inc.
With international operations in the US, Scotland and Sweden, Viragen is a
biopharmaceutical company engaged in the research, development, manufacture and
commercialisation of therapeutic proteins for the treatment of cancers and viral
diseases. The product portfolio includes: Multiferon(R) (multi-subtype, human
alpha interferon) which is uniquely positioned in valuable niche indications,
such as high-risk malignant melanoma, and other select cancers and infectious
diseases; VG102, a novel monoclonal antibody that binds selectively to an
antigen that is significantly over-expressed on nearly all malignant tumours;
and VG106, a novel cytokine targeting difficult-to-treat cancers.
For more information, please visit: http://www.Viragen.com
This information is provided by RNS
The company news service from the London Stock Exchange