Genticel has completed a determining milestone in its partnership with Serum Institute of India, in which Serum Institute has been evaluating the benefits of using GTL003 in new and improved multivalent vaccines.
As per the agreement signed in February 2015 with Genticel, Serum Institute has been evaluating the benefits of using GTL003 in new and improved multivalent vaccines and has obtained excellent preclinical results.
In preclinical in vivo experimentation, Genticel’s proprietary reengineered adenylate cyclase, GTL003, fulfilled the predetermined objectives.
This was the last preclinical milestone of the agreement, corresponding to a $1.2 million milestone payment.
Serum Institute can now proceed to finalize the formal preclinical testing prior to clinical development and subsequent commercialization in emerging markets only.
The agreement could generate for Genticel up to $57 million in milestone payments and then single digit-royalties on further sales.
In parallel, Genticel has just been granted a new United States patent, No 9,499,809, entitled “CyaA-based chimeric proteins comprising a heterologous polypeptide and their uses in the induction of immune responses.” One of the claims in this patent protects Vaxiclase when used as a product per se (GTL003), which is the case in Genticel’s partnership with Serum Institute.
Benedikt Timmerman, PhD, Chief Executive Officer of Genticel, commented: “These are all very good news regarding our agreement with Serum Institute and the protection of resulting product candidates in a key market such as the USA, to which Genticel has retained all commercial rights.” He continued: “Our partnership with Serum Institute is progressing as planned and Genticel can now confidently move its business development activities forward, with a particular focus on the Company’s access to innovative drug candidates.”