CoGenesys Announces Worldwide License Agreement wth Vegenics

CoGenesys, Inc. and Vegenics Limited has announced that they have entered into a worldwide licensing agreement that provides Vegenics with rights to intellectual property in the field of vascular endothelial growth factors (VEGF).

Under the terms of the agreement, CoGenesys will receive an upfront licensing fee, and is entitled to development milestone payments and royalties based on future sales of therapeutic products developed by Vegenics.

The approach of inhibiting VEGF and thus restricting blood and nutrient supply to tumors has potential in the treatment of cancer.

"We are delighted to announce this agreement with CoGenesys, which builds on our extensive patent portfolio covering VEGF-C and VEGF-D and antagonists to these molecules, developed by Ludwig and Licentia over the past 10 years," said Robert Klupacs, Managing Director of Vegenics.

Mark Rampy, Ph.D., Chief Business Officer of CoGenesys said, "This agreement demonstrates our ability to provide access to CoGenesys technology and intellectual property to companies, like Vegenics, that share our goal of rapidly developing innovative products for use in the treatment of serious diseases."

"This is CoGenesys' second license agreement, following a deal announced with PDL Biopharma earlier this year."

"Our business model is to internally advance select products into Phase I and Phase II clinical trials, while at the same time partnering our other assets."

"We continue to seek partners that are interested in rapidly developing innovative new product opportunities."