Published:
Cellectis and Regeneron Sign an Agreement Over the use of Homologous Recombination Technology
BIOCITECH,France, July 3 /PRNewswire-FirstCall/ -- Cellectis SA today
announced the signature of an agreement with Regeneron Pharmaceuticals, Inc.
over the use of Cellectis' patents covering certain uses of homologous
recombination for the generation of innovative human therapies, including the
development of fully human monoclonal antibodies. As part of the agreement,
Cellectis will receive an upfront of 12,450,000$ from Regeneron. In addition,
Regeneron will invest in Cellectis' equity.
The agreement resolves a dispute between the two companies related to the
interpretation of a license agreement entered into by and between Cellectis
and Regeneron in December 2003 pursuant to which Regeneron licensed certain
patents and patent applications relating to a process for the specific
replacement of a copy of a gene in the receiver genome by homologous
recombination. Pursuant to the agreement, Regeneron will make an up-front
payment to Cellectis in the amount of $12,450,000. In addition, Regeneron
will pay Cellectis a low single-digit royalty based on revenue received by
Regeneron from any future licenses or sales of Regeneron's VelociGene(R) or
VelocImmune(R) products and services. No royalties are payable with respect
to Regeneron's VelocImmune license agreements with AstraZeneca UK Limited and
Astellas Pharma Inc. or Regeneron's November 2007 collaboration agreement
with sanofi-aventis. Moreover, due to other considerations in the agreement,
no royalties are payable on any revenue from commercial sales of antibodies
from Regeneron's VelocImmune technology.
Regeneron and Cellectis also entered into a Subscription Agreement
pursuant to which Regeneron will acquire 368,301 ordinary shares of
Cellectis, par value EUR 0.05 per share, at a price of EUR 8.63 per share,
for a total of EUR 3,178,437.63. The subscription is contingent upon the
prior approval of the board of directors of Cellectis and by the shareholders
of Cellectis at an extraordinary general meeting to be held no later than
October 30, 2008.
About the licensed patents:
The agreement relates to Institut Pasteur's patents covering certain uses
of homologous recombination (US patents #6 528 313, 6 638 768 and 6 528 314,
Japanese patents #3059481, #3298842 and #3298864 and European patents EP #419
621 and #682 112). As the exclusive licensee of these patents, Cellectis has
access to the process of targeted integration of DNA sequences.
For further information, please contact:
Cellectis S.A.
David J.D. Sourdive, Ph. D
VP Corporate Development
Tel.: +33-(0)-1-41-83-99-00
e-mail: sourdive@cellectis.com
http://www.cellectis.com
Alize Public Relations
Caroline Carmagnol
Tel.: +33-(0)-6-64-18-99-59
e-mail: caroline@alizerp.com
SOURCE Cellectis SA
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Copyright © 2008, NewsBlaze,
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