Promosome Receives First Royalty Payment from licensing agreement with GE Healthcare Life Sciences

Sep 21, 2015, 15:00 ET from Promosome LLC

SAN DIEGO and NEW YORK, Sept. 21, 2015 /PRNewswire/ -- Promosome LLC ("Promosome"), a privately-held synthetic biology company, announced today that it has received the first royalty payment from its licensing agreement with GE Healthcare Life Sciences. Promosome also received payments in recognition of the completion of key milestones in the transfer of enabling technologies to GE Healthcare Life Sciences.

In 2014, the companies announced that they would work together to apply Promosome's suite of mRNA translation-based development tools to enhance the mammalian cell line development services offered by GE Healthcare Life Sciences. Under the terms of agreement, Promosome will receive milestone payments for the technology transfer and royalties on sales of Promosome-enabled services.

"We are exceedingly pleased with the progress of our partnership and with the robustness of the Promosome technologies when applied to the GE Healthcare solutions," said John Manzello, president of Promosome. "I can think of no greater compliment for our mRNA technology than to learn that our partner is already attracting significant interest in Promosome-enabled mammalian cell line development services."

"Our partnership with GE Healthcare is a key component of our efforts to broadly leverage the Promosome mRNA technology platform," said Chris LeMasters, chief executive officer of Promosome. "It allows us to reach an important segment of mammalian cell line development market with a world-class solutions provider, while focusing our internal development efforts on expanding Promosome's pipeline of therapeutic products, and exploring the potential of our technology in mRNA-based therapeutics and vaccines.

About Promosome LLC

Promosome is a synthetic biology company founded to commercialize the discoveries of Nobel Laureate, Dr. Gerald M. Edelman, and colleague Dr. Vincent P. Mauro of The Scripps Research Institute (TSRI) in La Jolla, California. Promosome's proprietary mRNA translation technologies produce meaningful improvements in the yield, quality and stability of proteins and antibodies produced in both prokaryotic and eukaryotic cells. Importantly, these improvements are gained through alterations to non-protein coding regions of mRNA: powering translation efficiency without introducing additional synonymous mutations associated with traditional codon optimization. Synonymous mutations may lead to immunogenicity in engineered protein drugs and may be particularly complicating in the safe delivery of mRNA-based therapeutics.

Promosome is using its technology platform to make important medicines more readily accessible to patients worldwide. Promosome's internal drug development pipeline include programs to produce existing biotherapies more efficiently (biosimilars) and to develop new biotherapies that are otherwise too difficult to produce (hard-to-express proteins).  Promosome is also exploring the potential of its technology in the development of mRNA-based therapies delivered directly to patients.

For more information on Promosome, please visit our website at www.promosome.com.

CONTACT:

Erin Sklar
Promosome LLC
10865 Road to the Cure, Suite 168
San Diego, CA   92121
+1-858-622-1026, ext. 1004

RELATED LINKS
http://www.promosome.com

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RELATED LINKS

http://www.promosome.com