ProBioGen grants a license for human lymph node technology to TissUse for Multi-Organ-Chip applications
Berlin, Germany, 06 December 2007
Significant upfront and milestone payments plus royalties for four indications
ProBioGen AG, a leading biotechnology company in vertebrate cell engineering and cell culture, today announced the closing of an exclusive licensing agreement for its avian cell line AGE1.CR. The agreement was signed with an undisclosed US vaccine development company and covers a total of four indications, including different forms of influenza and three additional disease areas.
Influenza is a major market with an expected market size of approximately USD 3.7 billion. ProBioGen will receive upfront payments plus potential milestone payments from its licensee. In addition, the licensing agreement provides significant upside for ProBioGen through potential revenue streams from royalties over the next years.
"This licensing agreement demonstrates the attractiveness of our unique cell line,” said Michael Schlenk, CEO of ProBioGen. “We have shown that AGE1.CR is superior as vaccine production system compared to classical approaches such as egg-based production methods and other cell lines. Moreover, this agreement is another landmark in our strategy to increasingly focus on proprietary products, which are key value drivers in the context of international development collaborations."