AMSTERDAM (Reuters) - Dutch drug and chemical group DSM and biotech firm Crucell have sealed a new licensing deal for Crucell’s human gene technology, the firms said on Thursday.
Crucell’s PER.C6 gene technology uses human cells as a platform to produce drugs, including vaccines for HIV and cancer.
Under Thursday’s deal, Dutch company Merus B.V. will use PER.C6 for the development of “oligoclonics,” mixtures of human antibodies produced by a single clonal cell line.
Crucell and DSM said as part of the agreement they would receive an upfront payment and annual maintenance fees.
No other financial details were disclosed.
“The PER.C6 cell line is instrumental in the stable and high yield production of Oligoclonics,” Merus Chief Executive Ton Logtenberg said in a statement.
Analysts said the deal would help small-cap Crucell reach the number of licensing agreements it needs to receive a milestone payment of four to five million euros ($6.06 million) from DSM.
The two companies have not disclosed how many licensing deals must be signed, but in recent months Crucell has announced several.
“This announcement is one of many in the collaboration of DSM Biologics and Crucell in the field of the development and production of biopharmaceutical products such as recombinant proteins and monoclonal antibodies,” merchant bank Kempen & Co. said in a note.
“We believe this could support the share price and therefore reiterate our ‘Add’ rating and our eight euro prices target.”
Crucell shares were little changed by 0748 GMT -- down 0.5 percent at 6.56 euros by 0655 GMT. A steady stream of upbeat news out of Crucell in recent months has helped fuel gains in its stock, which is up around 40 percent this year.
DSM shares were flat at 40.72 euros.
Earlier this month, Crucell said it had won veterinary approval for a West Nile virus vaccine in Israel -- its first market approval for a product based on the technology.
The company also reported positive results from trials of its Ebola vaccine this month, saying a single dose of the vaccine had successfully protected monkeys from the deadly disease in trials.
MeSH Headings:Genetic Techniques: Investigative Techniques: Analytical, Diagnostic and Therapeutic Techniques and EquipmentCopyright © 2002 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.
