For Immediate Release: July 14, 2005
Burnaby, British Columbia, Canada – Chromos Molecular Systems Inc. (“Chromos”; TSX: CHR) announced today that it has further expanded the patent portfolio surrounding both its ACE System and REM Technology with the issuance of four key additional patents. Chromos was awarded patents from the United States, Canada and Australia relating to its chromosome-based gene delivery and expression technology known as, the ACE System as well as an additional United States patent relating to its REM Technology.
The ACE System is a unique, proprietary artificial chromosome technology used to rapidly engineer cells to express therapeutic proteins. The ACE System provides several unparalleled capabilities for generating cell lines for biopharmaceutical production, for developing gene-based cell therapies and for generating transgenic animals. In the near-term Chromos is focused on using the ACE System to engineer cell lines for biopharmaceutical manufacturing.
The newly issued Australian patent 773,728 contains 198 claims and the recently allowed Canadian patent 2,250,682 contains 250 claims covering Chromos’ artificial chromosomes. These patents are of particular relevance as they broadly cover multiple aspects of the ACE System, including satellite artificial chromosomes, the proprietary class of chromosomes used in Chromos’ ACE System. In addition, these patents contain specific claims to methods of using the artificial chromosomes for applications in engineering cell lines for biopharmaceutical manufacturing, for gene therapy, and for production of transgenic plants and animals.
The new United States patent 6,743,967 contains broad claims covering the methos of producing non-human transgenic mammals comprising satellite artificial chromosomes. The claims in this patent apply to a range of vertebrate and invertebrate species.
“The broad claims in these additional patents add significant value to our worldwide intellectual property rights surrounding the ACE System and further Chromos’ position as a leader in the development and commercialization of artificial chromosome technology,” said Alistair Duncan, President and CEO of Chromos. “The growing strength of our patent estate will help us to realize the great commercial potential of the ACE System.”
Globally, Chromos owns or exclusively licenses approximately 83 granted patents including 18 granted in the U.S., and has about 70 patent applications pending worldwide. Within its patent estate, Chromos holds a dominant intellectual property portfolio worldwide in mammalian artificial chromosome technologies.
Chromos’ REM Technology is a proprietary technology that enables development of immune-based cell therapies using antigen-specific T-cells. This is accomplished by the rapid expansion of a patient’s own rare antigen specific T-cells into numbers that will be effective for treatment of specific infectious diseases and cancers. Chromos continues to seek partnering and licensing opportunities for use of its REM Technology for development of therapies to treat these serious diseases.
The patent portfolio related to the REM Technology added a key patent with the issuance of United States patent 6,890,753. This patent contains broad claims to a method for expanding an initial cloned T lymphocyte population in culture. This additional patent significantly broadens Chromos’ proprietary patent rights and further demonstrates the unique attributes of the REM Technology in the field of cell-based therapies.
On May 25, 2005 Chromos announced that it had signed a Letter of Intent to acquire Targeted Molecules Corporation. Due diligence and negotiation of the terms of the Definitive Agreement for this acquisition are continuing. A further announcement will be made when additional information is available.
Chromos also announced today that Alan Hardwick, formerly Vice President of Process Development at Chromos, has resigned.
Chromos is a cellular engineering and therapeutics company creating value through engineering production quality cell lines for the manufacture of biopharmaceuticals, and the development of innovative biological therapies for a variety of debilitating diseases. Chromos is achieving these objectives with its ACE System (Artificial Chromosome Expression) and REM (Rapid Expansion Method) technologies. In the near term, Chromos will focus on continued commercialization of the ACE System for engineering cell lines. To date Chromos has entered into corporate partnerships related to cell line engineering with partners including Pfizer Inc., Centocor, Inc. and Cambridge Antibody Technology. In addition, the Company has a strategic alliance with AppTec to provide customers with a complete range of cell line development and manufacturing services.
Risks and Uncertainties
Certain of the statements contained in this press release are forward-looking statements which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Chromos (the “Company”), or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
To the extent possible, management implements strategies to reduce or mitigate the risks and uncertainties associated with the Company’s operations. Operating risks include (i) the continued availability of capital to finance the Company’s activities; (ii) the Company’s limited cash position, (iii) the ability to successfully obtain proof of the effectiveness of the Company’s technology (iv) the ability to complete and maintain corporate alliances relating to the development and commercialization of the Company’s technology; (v) the ability to obtain and enforce patent and other intellectual property protection for the Company’s technology; (vi) market acceptance of the Company’s technology; (vii) the competitive environment and impact of technological change; (viii) the Company’s ability to attract and retain employees to carry out its business plans and (ix) the timely development and commercialization of any technology or products that are contingent on the completion and maintenance of corporate alliances with third parties. Further details on Chromos’ operating risks can be found in the Company’s Quarterly and Annual Reports to Shareholders.
FOR FURTHER INFORMATION:
Joseph G. Zendegui, Ph.D.
Vice President, Corporate Development
Tel: 604-415-7128
Email: Jzendegui@chromos.com
| © Copyright 2006:
Chromos. All rights reserved. ® is a Registered Trademark of Chromos. |