BURNABY, BC, March 20 /PRNewswire-FirstCall/ - Chromos Molecular Systems Inc. announced today that it has entered into an agreement with Pain Therapeutics, Inc. of South San Francisco, California to develop a cell line using Chromos’ ACE System.
Under the agreement, Chromos will engineer cell lines specific for the expression of a proprietary monoclonal antibody for Pain Therapeutics using the ACE System. Pain Therapeutics has the right to use the cell lines for scale up and manufacture of the proprietary monoclonal antibody, following the cell line engineering phase of the agreement. The financial details of the agreement were not disclosed.
Chromos’ ACE System is a versatile and potent biological engineering system based on proprietary artificial chromosome technology that facilitates the rapid engineering of stable high expressing production cell lines for the clinical and commercial manufacture of biopharmaceuticals. Recent data generated by one of Chromos’ partners has shown that cell lines engineered by Chromos using the ACE System are capable of achieving monoclonal antibody yields of greater than 4 g/L in a non-optimized bioreactor system, a four-fold improvement over the partner’s original cell line. Chromos has also used an ACE System-derived cell line to manufacture its lead product, CHR-1103.
The versatility of the ACE System also enables the rapid generation of research grade material to support preclinical research programs along with the ability to incorporate multiple genes into a production cell line. The ability to systematically and reproducibly introduce additional genes to a production cell line can be used to ensure correct post-translational modification of the product and/or improve the cell line’s performance in a bioreactor. Overall, the speed, performance and versatility of the ACE System can provide time and cost savings in the production of biopharmaceuticals.
The ACE System is Chromos’ leading revenue generator. The technology is licensed non-exclusively to third parties including Pfizer Inc., Centocor, Cambridge Antibody Technology and Pain Therapeutics, Inc.
About Chromos
Chromos is a biopharmaceutical company with two drug development programs focused on inflammatory diseases and thrombotic disorders. The Company’s lead product, CHR-1103, is a humanized monoclonal antibody being developed as an acute treatment for 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.
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; (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; (x) the demand for repayment of the outstanding Notes by the Noteholders and (xi) regulatory approval for the conversion of the outstanding Notes. Further details on Chromos’ operating risks can be found in the Company’s Quarterly and Annual Reports to Shareholders.
CONTACT: Jeff Charpentier, Vice President, Finance and CFO, Tel: (604) 415-7132, Email:jcharpentier@chromos.com, Website: www.chromos.com
Chromos Molecular Systems Inc.
CONTACT: Jeff Charpentier, Vice President, Finance and CFO, Tel: (604)415-7132, Email:jcharpentier@chromos.com, Website: www.chromos.com
