Scotland Awards Grant to Viragen for Cancer Research
PLANTATION, Fla., April 15 /PRNewswire-FirstCall/ -- Viragen, Inc. (Amex: VRA) and Viragen International, Inc.(NASDAQ-OTCBB:VGNI) (OTC Bulletin Board: VGNI) today announced that Viragen (Scotland) Ltd. has been awarded a prestigious Grant from the Scottish government for the approximate sum of 466,000 pounds sterling ($833,000) for the purpose of supporting the research and development of its anti-CD55 Antibody, a monoclonal antibody designed for the treatment of a broad range of cancers, either alone or in combination with other anti- cancer antibodies.
"The Scottish Executive awarded Viragen`s CD55 Project the maximum dollar amount eligible to be granted by its `SPUR Plus` program," stated Dr. Karen Jervis, Viragen`s Director of Technology and Projects Coordinator. "These grants are designed to reward Scotland`s most promising and innovative research programs, and we are very pleased to be recognized with this funding. We believe the anti-CD55 Antibody represents a novel and powerful approach to cancer therapy by deactivating the tumor`s defense mechanism, thus allowing other anti-cancer antibodies to work better, or itself stimulating the immune system to target and kill cancer cells."
Anti-CD55 Antibody Project:
In collaboration with Cancer Research UK and the University of Nottingham (England), Viragen is developing a monoclonal antibody designed to block the protective effect of the protein CD55 on the surface of tumor cells. The protein CD55 is one of a number of proteins which protect normal healthy cells from being destroyed by the complement system, part of the human immune response against disease. The problem arises when cancer cells also express this control protein to camouflage and protect themselves from the immune system.
The anti-CD55 antibody is designed to remove the tumor`s protective mechanism and, in theory, may boost patient response rates either as a stand- alone therapy or in combination with other antibodies. Viragen holds an option from Cancer Research Technology Limited to acquire an exclusive worldwide license to this platform technology with potential applications in a large number of cancer types.
About Cancer Research Technology Limited:
Cancer Research Technology Limited (CRT) is a specialist technology transfer and development company which aims to develop new discoveries in cancer research for the benefit of cancer patients. CRT is wholly owned by Cancer Research UK, the largest independent funder of cancer research in the world. CRT works closely with leading international cancer scientists and their institutes to protect intellectual property arising from their research and to establish links with commercial partners. CRT facilitates the discovery, development and marketing of new cancer therapeutics, vaccines, diagnostics and enabling technologies.
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