BAGNEUX, France--(BUSINESS WIRE)--Regulatory News:
Genomic Vision (Paris:GV) (FR0011799907 – GV), a company specializing in the development of diagnostic tests for the early detection of cancers and hereditary diseases, and applications for life sciences research, today announces that it has entered into a licensing agreement with European Equity Partners (EEP), a U.K private investment firm focused on life science investments, to use molecular combing technology within the bioprocessing domain.
Pursuant to this agreement, the parties will enter into a period during which they will confirm that the Combing Genome Integrity assay can replace or complete existing quality control test in Bioprocessing.
Followed a conclusive development program the two parties plan to establish of a new entity dedicated to applications of the Combing Genome Integrity assay in Biomanufacturing. This entity will have an exclusive license to Genomic Vision’s proprietary Molecular Combing technology in the field of Biomanufacturing.
The new company will offer a mixed model of analytical services as well as license agreements to strategic partners using Genome Integrity Assay for the production of biological products such as therapeutic proteins, monoclonal or polyclonal antibodies, vaccines and viral particles.
In exchange of the license right, Genomic Vision will receive an upfront, milestones payments (amounting to a total of more than 500 k€) as well as royalties on sales and services (other financial terms not disclosed).
David Kauffmann, founder partner of European Equity Partners, said: “We believe in the potential of the Genomic Vision proprietary technology for controlling the quality of Bioproduction where there is an important unmet need for new assays allowing the identification and quantification of genomic instability in cell populations. We are very excited by the idea of setting up analytical solutions based on this technology that will be perfectly adapted as quality control tool for cell banks clonality. These solutions will pave the way to better selection of appropriate clones and should lead to the improvement of cost effectiveness in process development and manufacturing”.
Stephane Altaba, Vice President Corporate Development of Genomic Vision, added: « We are very pleased of this partnership with EEP who has a great knowhow and knowledge in building business in the bioprocessing domain, in particular in the manufacturing of biological products. This agreement confirms the potential of the combing technology in monitoring genome instability for therapeutic recombinant proteins and monoclonal antibodies production - as we already demonstrated its benefits in gene editing with our partnership with Editas Medecine. In addition, with a new service activity in the field of Biomanufacturing, Genomic Vision has the opportunity to access a high added value and recurrent service revenue stream. We are looking forward to progress with EEP to create a new way to find innovative solutions to improve and secure quality of bioproduction for the benefit of pharma manufacturers and patients”.
ABOUT EUROPEAN EQUITY PARTNERS (EEP)
Based in London (United Kingdom), European Equity Partner (EEP) is a private investment firm focused on life science investments. It selectively looks to invest in small and mid-sized life science companies. The prospect of growth, proven business traction and a demonstrated promising business model are key investment parameters for EEP. As an active shareholder, EEP favours companies where its experience can assist management accelerate growth and optimize results. For further information, please visit: www.eeplp.com
ABOUT GENOMIC VISION
GENOMIC VISION is a company specialized in the development of diagnostic solutions for the early detection of cancers and serious genetic diseases and tools for life sciences research. Through the DNA Molecular Combing, a strong proprietary technology allowing to identify genetic abnormalities, GENOMIC VISION stimulates the R&D productivity of the pharmaceutical companies, the leaders of the diagnostic industry and the research labs.
The Company develops a robust portfolio of diagnostic tests (breast, ovarian and colorectal cancers, myopathies) and analysis tools (DNA replication, biomarkers discovery, gene editing quality control). Based near Paris, in Bagneux, the Company has approximately 50 employees. GENOMIC VISION is a public listed company listed in compartment C of Euronext’s regulated market in Paris (Euronext: GV - ISIN: FR0011799907). For further information, please visit: www.genomicvision.com
FORWARD LOOKING STATEMENT
This press release contains implicitly or explicitly certain forward-looking statements concerning Genomic Vision and its business. Such forward-looking statements are based on assumptions that Genomic Vision considers to be reasonable. However, there can be no assurance that such forward-looking statements will be verified, which statements are subject to numerous risks, including the risks set forth in the “Risk Factors” section of the reference document dated March 28, 2017, available on the web site of Genomic Vision (www.genomicvision.com) and to the development of economic conditions, financial markets and the markets in which Genomic Vision operates. The forward-looking statements contained in this press release are also subject to risks not yet known to Genomic Vision or not currently considered material by Genomic Vision. The occurrence of all or part of such risks could cause actual results, financial conditions, performance or achievements of Genomic Vision to be materially different from such forward-looking statements.
This press release and the information contained herein do not constitute and should not be construed as an offer or an invitation to sell or subscribe, or the solicitation of any order or invitation to purchase or subscribe for Genomic Vision shares in any country. The distribution of this press release in certain countries may be a breach of applicable laws. The persons in possession of this press release must inquire about any local restrictions and comply with these restrictions.