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Crucell Announces STAR Technology Research License with Korean-based ISU ABXIS
Thursday, January 17, 2008
Leiden, Netherlands -- Dutch biotechnology company Crucell N.V. (Euronext, Nasdaq: CRXL, Swiss Exchange: CRX) today announced a non-exclusive STAR research license agreement with Korean-based ISU ABXIS. The license covers both a research evaluation of STAR technology for the production of recombinant proteins and an option for a commercial license. Financial details of the agreement were not disclosed.
About STAR Technology
STAR technology is a production technology that is particularly useful for the production of recombinant human antibodies and proteins. It has a potentially broad application and is effective for production of antibodies and proteins on mammalian cell lines such as Crucell's PER.C6 human cell technology and the widely used Chinese hamster ovary (CHO) cell line. STAR technology contains genetic elements, called STAR elements, that enable stable and high-yield gene expression important to recombinant antibody and protein production in mammalian cells. The technology has the potential to increase production yields, thereby reducing production costs. STAR technology was discovered by Dr. Arie Otte (Nature Biotechnology 2003 May, 21 (5)) who founded Chromagenics B.V., a spin-off company of the University of Amsterdam acquired by Crucell in March 2004.
Crucell N.V. (Euronext, Nasdaq: CRXL; Swiss Exchange: CRX) is a biotechnology company focused on research, development and worldwide marketing of vaccines and antibodies that prevent and treat infectious diseases. Its vaccines are sold in public and private markets worldwide. Crucell's core portfolio includes a vaccine against hepatitis B, a fully-liquid vaccine against five important childhood diseases, and a virosome-adjuvanted vaccine against influenza. Crucell also markets travel vaccines, such as the only oral anti-typhoid vaccine, an oral cholera vaccine and the only aluminium-free hepatitis A vaccine on the market. The Company has a broad pipeline, with several products based on its unique PER.C6 production technology in development. The Company licenses this and other technologies to the biopharmaceutical industry. Important partners and licensees include DSM Biologics, sanofi-aventis, Novartis, Wyeth and Merck & Co. Crucell is headquartered in Leiden (the Netherlands), with subsidiaries in Switzerland, Spain, Italy, Sweden, Korea and the US. The Company employs over a 1000 people. For more information, please visit www.crucell.com.
About ISU ABXIS
ISU ABXIS CO., LTD. (Seoul, South Korea) is a private biotechnology company specialized in developing therapeutic monoclonal antibodies using CHO cell based manufacturing systems. Currently, the company has developed and marketed the first biosimilar antibody, CLOTINAB, all around the world. Among ISU ABXIS' pipelines, there are two other biosimilar proteins and three novel antibody drugs in the area of cancers and inflammatory diseases. Since it's establishment, the R&D center has focused on identifying new targets that act on cancer and inflammatory diseases. The candidates obtained through Target Discovery Project are currently being identified and validated for their therapeutic utility. With its own manufacturing facility and excellent expertises of antibody screening and production process development, the company has been active in seeking business opportunities for product development by way of license agreement or co-development. For more information, please visit www.abxis.com.
This press release contains forward-looking statements that involve inherent risks and uncertainties. We have identified certain important factors that may cause actual results to differ materially from those contained in such forward-looking statements. For information relating to these factors please refer to our Form 20-F, as filed with the U.S. Securities and Exchange Commission on June 13, 2007, and the section entitled "Risk Factors". The Company prepares its financial statements under generally accepted accounting principles in the United States (US GAAP) and Europe (IFRS).
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