CHALFONT ST. GILES, UK and NEW YORK, NY, USA – 28 April 2014 – GE Healthcare Life Sciences, (NYSE: GE), and Promosome LLC announced today that the companies have signed a licensing agreement, granting GE Healthcare exclusive rights to an innovative suite of mammalian cell line development technologies, developed by Promosome, for increasing protein expression in mammalian cell culture. Under the terms of agreement, Promosome will receive milestone payments for technology transfer and subsequent royalties upon commercialization.
Mammalian cell culture plays a key role in the manufacture of biotherapeutic proteins for the treatment of diseases such as cancer and rheumatoid arthritis, as well as the new generation of vaccines. GE Healthcare already offers a wide range of start-to-finish technologies and services for the biopharmaceutical manufacturing industry. In-licensing of Promosome’s cell line development technologies will enable GE Healthcare Life Sciences to expand its offering with a cell line generation service focused on delivering increased expression levels for hard-to-manufacture therapeutic proteins and improving manufacturing efficiency through increased protein yields.
Morgan Norris, General Manager for Upstream Products, BioProcess, GE Healthcare Life Sciences, said: “The biopharmaceutical industry is constantly looking for ways to improve efficiency and increase flexibility. Promosome’s technologies provide a powerful way to drive up protein yields and, more excitingly, boost the output of cell lines for hard-to-express proteins to a level where large-scale manufacturing becomes viable and previously disregarded therapies can be progressed.”
John Manzello, President and CEO of Promosome, added: “This agreement represents a significant commercial milestone for Promosome. We are excited to be working closely with the team at GE Healthcare to transfer our technology to their in-house experts. GE Healthcare is ideally positioned to deliver our technology to the global biopharmaceutical industry.”
GE Healthcare recently acquired Thermo Fisher’s HyClone™ cell culture media and sera allowing GE to expand its offering of start-to-finish technologies for the discovery and manufacturing of innovative new medicines and vaccines. In 2012 the company launched KUBio™, an off-the-shelf modular factory for the manufacture of monoclonal antibodies.
At GE, we envision a day when cancer is no longer a deadly disease. In September 2011, GE Healthcare launched an ambitious global campaign against cancer, committing $1 billion of its total R&D budget over the next five years to expand its advanced cancer diagnostic and molecular imaging capabilities, as well as its advanced technologies for the manufacture of biopharmaceuticals and for cancer research. By the end of 2012, $335M had been invested, setting GE on track to meet its five-year commitment. To accelerate progress, and to help clinicians deliver better care to 10 million patients by 2020, the campaign against cancer combines the strength of GE’s portfolio of cancer technologies with the innovations born from collaborations with key partners.
About GE Healthcare
GE Healthcare provides transformational medical technologies and services to meet the demand for increased access, enhanced quality and more affordable healthcare around the world. GE (NYSE: GE) works on things that matter - great people and technologies taking on tough challenges. From medical imaging, software & IT, patient monitoring and diagnostics to drug discovery, biopharmaceutical manufacturing technologies and performance improvement solutions, GE Healthcare helps medical professionals deliver great healthcare to their patients. For more information about GE Healthcare, visit our website at www.gehealthcare.com
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. Leveraging Drs. Edelman and Mauro's unparalleled expertise in the areas of mRNA translation, Promosome offers licensing opportunities on these technical advances for biotherapeutic and bioindustrial companies seeking to improve expression efficiencies. The company has recently established its developmental facility in La Jolla to initiate a pipeline of its own proprietary proteins incorporating these mRNA translation based advances.
For more information on Promosome's technology and Promosome corporate information, please visit www.promosome.com
About GE Healthcare
GE Healthcare provides transformational medical technologies and services to meet the demand for increased access, enhanced quality and more affordable healthcare around the world. GE (NYSE: GE) works on things that matter - great people and technologies taking on tough challenges. From medical imaging, software & IT, patient monitoring and diagnostics to drug discovery, biopharmaceutical manufacturing technologies and performance improvement solutions, GE Healthcare helps medical professionals deliver great healthcare to their patients.