MERIDEN, Conn., Feb. 22, 2012 /PRNewswire/ -- Protein Sciences Corporation ("Protein Sciences") announced today that it has granted Merck, through a subsidiary, a non-exclusive license to Protein Sciences' proprietary expresSF+® serum-free insect cell line (SF+) and related technology (collectively, PS Technology) to conduct vaccine research. In addition, Protein Sciences has granted Merck an exclusive license to use PS Technology for commercial production of an undisclosed vaccine candidate.
Under the agreement, Merck will pay an up-front fee and Protein Sciences is eligible to receive payments associated with Merck exercising its option to the PS Technology for the commercialization of additional vaccine candidates. Protein Sciences will be eligible to receive payments contingent upon the achievement of certain milestones associated with the development and regulatory approval of vaccine candidates and royalties on sales of any vaccines produced by Merck using PS technology.
"We are very excited that Merck has chosen to use our technology," said Dan Adams, Executive Chairman of Protein Sciences. "Merck joins several other pharmaceutical companies worldwide that have signed non-exclusive license agreements to use PS Technology."
PS Technology provides a fast, reliable and inexpensive platform for the production of high quality recombinant proteins, making it a powerful tool for producing vaccines and therapeutics. The SF+ cell line offers significant manufacturing and regulatory advantages, including scalability to large volumes and high cell densities in low cost serum-free media. Over 1,000 different proteins have been produced using this technology, all of which have been correctly folded and biologically active. Licenses are available on a non-exclusive basis to use PS Technology for research and the development of new vaccines.
Protein Sciences is a vaccine development and protein production company based in Meriden, CT that is dedicated to saving lives and improving health through the creation of innovative vaccines and biopharmaceuticals. We use our powerful PS Technology to make all of our products. PS Technology is covered by broad patents that include our proprietary SF+ cell line.
Our lead product, FluBlok®, is a recombinant trivalent vaccine for seasonal influenza, consisting of recombinant influenza hemagglutinin (rHA) proteins that are manufactured using cell culture instead of eggs. Because FluBlok is highly purified, it does not require the use of thimerosal or antibiotics, and is low in endotoxins. FluBlok, which has shown exceptional performance in clinical trials, is under final review by the U.S. Food and Drug Administration.
In 2009, we received a $147 million five-year contract award by the Biomedical Advanced Research and Development Authority, a division of the U. S. Department of Health and Human Services, to further develop our technology for the production of recombinant influenza vaccines for pandemic preparedness. Budgets totaling more than $80 million have thus far been approved to support work through at least mid-2013.
Learn more at www.proteinsciences.com.
SOURCE Protein Sciences Corporation