Genetic Therapy Inc. said Wednesday that it has signed a genelicensing agreement with British Technology Group through itssubsidiary, British Technology Group USA Inc., to developproducts for genetic therapy of hemophilia B.
Under the agreement, the Gaithersburg, Md., company hasobtained the exclusive right to use the gene for Factor IX inretroviral vectors for gene therapy to treat hemophilia B.Factor IX is a protein essential to normal clotting that is missingor defective in patients with hemophilia B.
The company (NASDAQ:GTII) has made an up-front payment toBritish Technology, and will make milestone and royaltypayments. No dollar amounts were disclosed. GTI must meetperformance milestones to maintain exclusivity. In addition,GTI has right of first refusal to license the Factor IX geneexclusively for use in other types of viral vectors.
GTI is collaborating with the Fred Hutchinson Cancer ResearchCenter in Seattle to develop retroviral vectors containing genesthat can produce missing or defective clotting proteins.
GTI shares lost $1, closing at $18. -- KB
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