On August 1, 2005 Phogen Ltd ("Phogen") and Cancer Research Technology Limited (CRT) reported that they have entered into an exclusive Technology Commercialisation Agreement for the commercialisation of Phogen’s VP22 technology (Press release, Cancer Research Technology, AUG 1, 2005, View Source [SID1234523435]).
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Under the terms of the agreement, CRT has agreed to provide Phogen with its expertise to commercialise Phogen’s VP22 Intellectual Property by identifying potential commercial partners and negotiating commercial terms with those parties, including licence agreements and sponsored research collaborations. Financial terms were not disclosed.
VP22 is a versatile platform technology, having utility in its DNA form for enhancing DNA vaccines and gene therapies, while the protein form, denoted Vectosomes, offers multiple delivery applications, which have been demonstrated for candidate therapeutic nucleic-acid based drugs as well as therapeutic proteins.
Dr Peter O’Hare, Phogen’s Co-founder and Director of the Marie Curie Research Institute, commented: "CRT was instrumental in the establishment of Phogen and we are delighted to have signed this agreement with them. It is particularly gratifying that their expertise will be brought to bear in the commercialisation of our technology."
Dr Keith Blundy, Chief Operating Officer of CRT, commented: "This agreement highlights CRT’s expertise and track record in technology commercialisation. We are very pleased to be working with Phogen, a joint venture established by Marie Curie Cancer Care, one of our academic partners."