French Agency for Industrial Innovation Grants EUR 25 Million to Transgene
STRASBOURG, France, November 24 /PRNewswire/ -- Transgene S.A. (Eurolist Paris: FR0005175080) announces today that it has been granted EUR 25 million by the French Agency for Industrial Innovation (Agence Francaise de l'Innovation Industrielle - AII) for funding Transgene's participation in the ADNA ("Advanced Diagnostics and New therapeutic Approaches") project. The funding, which is subject to a European Commission approval expected in the second quarter of 2007, is to be paid over the life of the project and will consist of grants for Transgene totalling EUR 17.8 million and loans of EUR 7.2 million refundable only in case of success.
The ADNA project aims at meeting the challenges of personalized medicine in the fields of cancer, infectious diseases and rare genetic diseases through the development of new diagnostic and therapeutic approaches. The ADNA project will be carried out by four partners: bioMerieux, Genethon, GenoSafe and Transgene, under the coordination of Merieux Alliance.
The core of the programme will be to develop pharmacogenomic approaches, i.e. identifying, developing and validating molecular markers (biomarkers) that would allow the prescription of new treatments to those patients most likely to benefit from them. Indeed, biomarkers aim at earlier diagnosis, better knowledge and follow-up of the disease evolution and the patient's response to the treatment.
"The funding will help Transgene expand and accelerate its therapeutic vaccines portfolio," said Philippe Archinard, Chief Executive of Transgene. "AII's decision to support the ADNA project with substantial funding is a recognition of its scientific, medical and industrial relevance."
About Transgene and Merieux Alliance:
Transgene is a France-based biopharmaceutical company dedicated to the development of therapeutic vaccines and immunotherapeutic products in oncology and infectious diseases. The company has three compounds in Phase II trials and one compound in Phase I studies. Transgene has bio-manufacturing production capacities for viral-based vectors and technologies available for out-licensing. For further information about Transgene, please visit www.transgene.fr
Merieux Alliance is a privately-held French-based company whose mission is to fight disease, particularly infectious diseases by developing innovative and complementary tools spanning the complete range of healthcare: prevention, diagnosis, prognosis, therapeutic care and clinical follow-up. Merieux Alliance owns controlling interests in Transgene, bioMerieux, Silliker, ABL Inc. and Shantha Biotechnics Ltd.
Cautionary note regarding forward-looking statements:
This press release contains forward-looking statements referring to the Company's anticipated receipt of funding for, and participation in, the ADNA research project, as well as the eventual impact of Transgene's participation on the development of its therapeutic vaccines portfolio. However, the funding is subject to the approval of the European Commission, and there is no guaranty that the funding will be received. In addition, product development depends on a variety of factors, including the uncertainties inherent in biological and medical research and clinical testing. There is no certainty that the research will lead to products that achieve adequate therapeutic efficacy or regulatory approval. For further information on the risks and uncertainties involved in the development of Transgene's product candidates, see Transgene's Document de reference on file with the French Autorite des Marches Financiers and available on its website at http://www.amf-france.org and Transgene's website http://www.transgene.fr.