Rheogene Inc. Grants License to Centocor
NORRISTOWN, Pa., December 7, 2006 — RheoGene Inc., a wholly owned affiliate of the University of Pittsburgh Medical Center (UPMC), has granted a nonexclusive license to Centocor Research and Development Inc. of Radnor, Delaware County, to use the biotech company’s gene-targeting AttSite ™ recombinase, an enzyme-based technology designed to guide gene insertion into specific “hot spots” within the genome to ease the exchange of DNA and development of new genetic sequences and cell lines. Financial terms were not disclosed.
“We are very excited that one of the world’s pioneers and leaders in the development and manufacturing of monoclonal antibodies for immune-related diseases has recognized the value of our AttSite™ technology for use in cell-line development,” said RheoGene President and CEO Tom Tillett. This is the second significant AttSite™ licensing agreement announced by RheoGene this year. In July, RheoGene announced a similar licensing agreement with Symphogen A/S of Copenhagen, Denmark. Centocor is a wholly owned subsidiary of Johnson & Johnson.
About RheoGene Inc.
RheoGene is dedicated to unlocking the power of cell and gene therapy™. RheoGene’s proprietary RheoSwitch® Therapeutic System (RTS) and DirectIt™ recombinase platforms are the keys to safe, targeted and regulated cell and gene therapies that deliver the right dose – to the right place – at the right time. RheoGene also provides customized RheoSwitch inducible gene expression and AttSite™ recombinase products for pharmaceutical discovery and development and biotherapeutics production. RheoGene is a wholly owned affiliate of the University of Pittsburgh Medical Center (UPMC). It has operations in Norristown, Pa., and Pittsburgh. For more information, visit www.rheogene.com .
About the University of Pittsburgh Medical Center
The University of Pittsburgh Medical Center (UPMC) is the largest integrated health care system in Pennsylvania and one of the leading nonprofit medical centers in the country. UPMC is a $6 billion, 43,000-employee organization and the largest employer in western Pennsylvania. UPMC is consistently ranked among the nation’s top hospitals by U.S. News & World Report, and its academic partner, the University of Pittsburgh and affiliated programs attract more than $431 million annually in National Institutes of Health (NIH) funding, ranking 7th in the nation for fiscal year 2005. For more information about UPMC, visit the Web site at www.upmc.com.