Viragen dumps transgenics program, cancels pacts

After looking at the long path that stretches from the lab to commercialization for its avian transgenics program, Viragen has decided to drop the project and focus on its anti-cancer work. Company officials have notified the Roslin Institute and Oxford BioMedica that they were terminating development of the OVA system--which sought a more efficient method of manufacturing therapeutic proteins in egg whites--and canceling its research and licensing agreements. Oxford BioMedica says its looking at new ways to advance the technology.

"While we have accomplished some truly excellent science, including more 'firsts' than any other group in this field, the distance between research and commercialization is simply too great, and our resources are better focused on advancing our anti-cancer therapeutics," commented Viragen's president and CEO, Charles A. Rice.

- here's the release from Viragen
- and here's the report from Thomson Financial