BURNABY, BC, March 30 /PRNewswire-FirstCall/ -- Chromos Molecular Systems Inc. ("CHROMOS"; TSX: CHR) today announced that it has extended its collaboration agreement with Lonza Biologics PLC ("Lonza") of Slough, England. This agreement provides Lonza researchers with non-exclusive access to Chromos' ACE System for evaluation in its contract manufacturing business.
"We continue to build on our relationship with Lonza and the work of our joint program over this past year," said Alistair Duncan, President and CEO of Chromos. "We are fortunate to work with such a strong partner in the area of protein manufacturing, as we continue to demonstrate the capabilities of our unique chromosome-based, gene delivery and expression technology (The ACE System) in reducing the time to isolate stable, high expressing production cell lines."
Chromos' chromosome-based technology enables the rapid engineering of cell lines so that they express specific genes in a controlled and predictable manner. The Company's near term commercial focus is in the application of its ACE System for use in cellular protein production to manufacture therapeutic proteins. The ACE System has unique features that allow auditioning the expression capabilities of several cell lines in a short time. The ACE System can function in a wide variety of mammalian cells commonly used in protein production.
The term of the extension will be in effect until Q4 of this year, with an option to license Chromos' ACE System with Lonza's GS System for use in cellular protein production. Financial terms of the agreement were not disclosed.
Chromos Molecular Systems Inc. is a public, Canadian biotechnology company leading the development of innovative therapies using a proprietary gene delivery and expression system for the production of therapeutic proteins and cell-based gene therapies. Chromos is achieving this objective with a unique mammalian chromosome technology platform from which multiple product candidates can be developed. Chromos' technology, referred to as the ACE System, is a unique and powerful vehicle for carrying genes into cells for subsequent expression of proteins.
It offers competitive advantages over current systems in that it permits the rapid and efficient insertion of selected genes, allows for the long term and stable expression of large, single or multiple proteins, and provides a means to selectively and predictably control protein expression.
Note: Certain of the statements contained in this press release are forward-looking statements which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
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