SEATTLE--(BUSINESS WIRE)--Targeted Genetics Corporation (Pink Sheets:TGEN) (the “Company”) today announced that it has completed the technology transfer portion of the September 2009 asset sale transaction executed between the Company and Genzyme Corporation (“Genzyme”) and has received the full $7.0 million provided for in the asset purchase agreement. As previously announced, the Company received $3.5 million from Genzyme at the closing of the transaction and was eligible to receive up to an additional $3.5 million upon the achievement of seven technology transfer milestones. The Company completed all seven technology transfer milestones and received aggregate payments from Genzyme of $2.5 million in the fourth quarter of 2009 and $1.0 million in the first quarter of 2010 for a total of $3.5 million.
