Transgene . (NASDAQ:TRGNY)
Historical Stock Chart
From Jun 2019 to Jun 2024
![Click Here for more Transgene . Charts. Click Here for more Transgene . Charts.](/p.php?pid=staticchart&s=N%5ETRGNY&p=8&t=15)
Transgene Announces Achievement of Clinical Milestone by Merck &
Co., Inc. Using Transgene's Proprietary Technology
STRASBOURG, France, July 21 /PRNewswire-FirstCall/ -- Transgene (Eurolist
Paris : FR0005175080; Nasdaq: TRGNY) announced today 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.
This press release contains forward-looking statements referring to the further
development and eventual marketing of Transgene proprietary technology, as well
as to the receipt by Transgene of future milestone and royalty payments related
thereto. However, as is the case with all biopharmaceutical products and
technology under development, results from clinical testing may not show
favourable outcomes, and there is no certainty that technology under
development will ever demonstrate adequate medical efficacy or achieve
regulatory approval or commercial use. As a result, the receipt by Transgene of
further milestone payments and eventually royalty payments for marketed
products is uncertain. For a description of the principal risks facing the
successful clinical and commercial development of Transgene's products and
technology, see Transgene's Annual Report on Form 20-F and its other reports on
file with the U.S. Securities and Exchange Commission.
DATASOURCE: Transgene
CONTACT: Philippe Poncet, C.F.O. and Investors Relations, Transgene,
+33-3-88-27-91-21; Estelle Guillot-Tantay or Tiphaine Hecketsweiler of Image
7, +33-1-53-70-74-93, for Transgene
Web site: http://www.transgene.fr/