BURNABY, B.C., Sept. 21 /PRNewswire-FirstCall/ - Chromos Molecular Systems Inc. announced today that it has entered into a cell line engineering service agreement with Y's Therapeutics, Inc. of Burlingame, California to develop a cell line using Chromos' ACE System for potential use in the clinical and commercial manufacture of a therapeutic protein candidate.
Under the agreement, Chromos will engineer cell lines specific for the expression of a recombinant protein of Y's using the ACE System. Y's Therapeutics has the option to use the cell lines for scale-up and manufacture of the protein product under agreed license terms, following the cell line engineering phase of the agreement. The financial details of the agreement were not disclosed.
Chromos' proprietary ACE System is a versatile chromosome-based gene delivery and expression platform with broad applications. The ACE System is uniquely designed to allow genetic engineering of production cell lines with multiple genes in order to ensure correct post-translational modification of the product and / or improve the cell line's performance in a bioreactor, thus reducing the cost of production of the therapeutic protein product.
Recent data, generated by one of Chromos' partners, have shown that cell lines engineered by Chromos using the ACE System to express the partner's monoclonal antibody were able to achieve a yield of approximately 4 g/L in a non-optimized bioreactor system.
The ACE System is Chromos' leading revenue generator. The technology is licensed non-exclusively to third parties including Pfizer Inc., Centocor and Cambridge Antibody Technology.
Chromos is a biopharmaceutical company with two drug development programs focused on inflammatory diseases and thrombotic disorders. The Company's lead program, CHR-1103, is a humanized monoclonal antibody being developed as a treatment with an initial focus on the treatment of acute relapses associated with multiple sclerosis (MS). Chromos generates revenue from its proprietary ACE System technology to engineer production quality cell lines to manufacture biopharmaceutical products including monoclonal antibodies. For more information visit our website at www.chromos.com.
About Y's Therapeutics
Y's Therapeutics is a privately held biopharmaceutical company engaged in the R&D of novel therapeutics for the treatment of inflammation-mediated diseases, cancer and other unmet medical needs. Y's focuses on the development of preclinical and early-stage clinical projects pursued through research collaborations and in-licensing opportunities from academic institutions and biotech companies. Y's intends to seek collaborative relationships, including out-licensing of product rights and creation of joint ventures, for late-stage development, manufacturing and commercialization of its portfolio products. The company currently has several projects in its clinical and preclinical pipeline. For more information visit our website at www.ysthera.com.
Risks and Uncertainties
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 Chromos (the "Company"), or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
To the extent possible, management implements strategies to reduce or mitigate the risks and uncertainties associated with the Company's operations. Operating risks include (i) the continued availability of capital to finance the Company's activities; (ii) the Company's limited cash position, (iii) the ability to successfully obtain proof of the effectiveness of the Company's technology (iv) the ability to complete and maintain corporate alliances relating to the development and commercialization of the Company's technology; (v) the ability to obtain and enforce patent and other intellectual property protection for the Company's technology; (vi) market acceptance of the Company's technology; (vii) the competitive environment and impact of technological change; (viii) the Company's ability to attract and retain employees to carry out its business plans and (ix) the timely development and commercialization of any technology or products that are contingent on the completion and maintenance of corporate alliances with third parties. Further details on Chromos' operating risks can be found in the Company's Quarterly and Annual Reports to Shareholders.
CONTACT: Joseph Zendegui, Ph.D., Vice President, Corporate Development, Tel: (604) 415-7128, Email: email@example.com; Website: www.chromos.com
Chromos Molecular Systems Inc.