11 May 2005 - Viragen, Inc. and Cancer Research Technology Limited (U.K.) 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), resulting in the significant increase in the destruction of cancer cells in vitro, indicating the potential of the agent to be used effectively in combination with other therapies.
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