MOLOGEN in China: Joint Venture against Infectious Diseases
Berlin, Germany, 2004-08-26
To optimize business strategy in China, MOLOGEN AG has leveraged a cooperation with Chinese scientists and financial investors in the industrial center Guangzhou (Canton-City), to open up an extremely viable field of biomedical business for its 3-partner joint venture in the capital of Guangdong province.
The joint venture will focus on the development of MOLOGEN's patented dSLIM immunomodulator technology, and on the industrialization and marketing of derived DNA medicines of the DNABarrier family against life-threatening infectious diseases.
The new partner is China's top-ranked and highly state-funded biotech research center, Biopharmaceutical R&D Center of Jinan University under its director Professor LI, Xiao-Kun. The financial investor is China Life Science Investment Co Ltd. Signature of the agreement now paves the way for funding from city, province, and state for the joint venture.
All rights to the know-how, patents and synthesis procedures for DNABarrier applications remain with MOLOGEN.
According to the agreement MOLOGEN grants to the joint venture an option for a license to use dSLIM for the treatment and prevention of infectious diseases in China. Price and procedures of such a license will be negotiated during later stages of development in good faith and at market conditions.
Together with the already operational co-development contract with Starvax Inc. of Beijing, where dSLIM-based cancer therapeutics are under development, foundation of the joint venture in Guangzhou accesses the second large area of applications of dSLIM in China: a protection against infectious diseases.
General information about MOLOGEN
MOLOGEN focuses on its proprietary DNA technologies to create and develop treatments for high-unmet-need illnesses. The main focus are MOLOGEN's unique and patented MIDGE and dSLIM technologies. Based on these platforms, MOLOGEN is developing DNA-based vaccines and therapeutics to prevent or cure a wide range of diseases.
Going public in 1998, MOLOGEN was one of the first German biotechnology companies to be floated on the stock exchange. The MOLOGEN shares are traded on the Geregelter Markt in Frankfurt.
Contact: Matthias Reichel
Phone: +49-30-84 17 88 - 0
Fax: +49-30-84 17 88 - 50
e-mail: [email protected]