Transgene Announces Achievement of Clinical Milestone by Merck & Co., Inc. Using Transgene's Proprietary Technology
Transgene announced that Merck & Co., Inc. has met a clinical development milestone for a vaccine candidate constructed with Transgene's proprietary homologous recombination technology. This technology enables the highly efficient and fast generation of recombinant viral vectors, in particular adenovirus vectors, which can be used in a broad range of applications, including recombinant vaccines and in vitro diagnostics.
Transgene granted Merck a non-exclusive license for this technology in January 2003 and expects to receive, in addition to the initial license fee and annual maintenance fees, milestone payments based on the further development of products by Merck, as well as royalties on any marketed products.
"The initiation of a Phase I trial triggers the first clinical milestone payment under the license agreement signed between Merck and Transgene," said Philippe Archinard, Chief Executive Officer of Transgene. "We are pleased that Merck is making further progress towards developing vaccines using our proprietary technology."
Transgene, based in Strasbourg, France is a biopharmaceutical company dedicated to the discovery and development of therapeutic vaccines and immunotherapeutic products in oncology and infectious diseases. Transgene has a broadportfolio of clinical stage immunotherapy drugs, technologies available for out-licensing and viral vectors bio-manufacturing capacities.
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