Xcyte Therapies And Invitrogen Announce Signing Of Asset Purchase Agreement
作者: 整理时间:2005-12-20
12/19/2005
Invitrogen To Acquire Xcyte's T Cell Expansion Technology
Seattle & Carlsbad, CA - Xcyte Therapies, Inc. and Invitrogen Corporation announced they have entered into a definitive agreement for Invitrogen to acquire Xcyte's T cell expansion technology, known as the "Xcellerate Process." The acquired assets will include intellectual property, the clinical data generated by Xcyte in the course of six clinical trials of its lead product, Xcellerated T Cells, as well as raw materials and equipment.
Under the terms of the definitive agreement, upon the closing of the transaction Invitrogen will make a $5 million cash payment to Xcyte. In addition, Xcyte is entitled to receive a percentage of any sublicensing revenue Invitrogen derives from the further licensing of Xcyte's intellectual property for therapeutic purposes, subject to certain minimum revenue requirements.
"Xcyte has had a long and productive collaboration with Dynal Biotech for the production of Xcyte Dynabeads, the proprietary magnetic bead Xcyte has used to expand and activate T cells for potential therapeutic indications in oncology and infectious disease," said Robert L. Kirkman, M.D., Acting President and Chief Executive Officer of Xcyte. "With Xcyte's decision earlier this year to pursue a new strategic direction and Invitrogen's acquisition of Dynal, Invitrogen was our first choice to acquire the Xcellerate Technology. We are very pleased that they have agreed to do so and will continue to make this exciting and important approach to immunotherapy available to the research community."
"To Invitrogen, this transaction represents a cornerstone in a broader effort to substantially increase our offering to customers working within immunotherapy. We firmly believe T-cell based therapy will become an important contributor in the efforts to fight disease in the future," said Dr. Oystein Amellem, Business Area Manager for Invitrogen's Dynal Bead Based Separation group. "Expansion of T cells ex vivo using Dynabeads(R) to which anti-CD3 and anti-C28 monoclonal antibodies are linked may prove useful for the treatment of cancer, infectious diseases and recently autoimmune diseases. We are very excited to be able to bring this unique technology to our customers in the emerging field of cell-based immunotherapy."
SOURCE: Xcyte Therapies, Inc.
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