Under the terms of the agreement, GenVec will receive a non-exclusive, commercial license to use Crucell's PER.C6(TM)cell line for the development of BioBypass(R). Crucell will receive an upfront fee and annual payments, as well as royalties on any future net product sales. Financial details of the agreement were not disclosed.

 

BioBypass(R) is intended to induce new blood vessel formation (angiogenesis) and improve blood circulation in tissues with inadequate blood flow. It is currently in late-stage Phase II clinical trials to evaluate its potential use in the treatment of Coronary Artery Disease and Peripheral Vascular Disease.

 

About Crucell

Crucell discovers and develops biopharmaceuticals that use the human immune system to combat cancer, infectious diseases and other conditions.  Crucell leverages its patented technologies, MAbstract(TM), AdVac(TM), and PER.C6(TM) for discovery, development and production of antibodies and vaccines.  Crucell offers its technologies to the pharmaceutical and biotechnology industry and also uses them to create its own product pipeline.  Partners include Merck & Co. for the HIV vaccine, the National Institutes of Health (NIH) for the Ebola vaccine and Centocor, a Johnson & Johnson company, for the CD46 antibody for treatment of various types of cancer.  In addition, Crucell has over 20 licensees for its PER.C6(TM) technology.  These include Novartis, GSK, Aventis and Schering AG.  With headquarters in Leiden, The Netherlands, the company currently employs 200 people.  Crucell is listed on Euronext and NASDAQ (ticker symbol CRXL).  For more information visit www.crucell.com.

 

Please click on the link to view the formatted article: