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Tel Aviv, February 8, 2008, Protein Production Services Ltd. (PPS), an Israeli biopharmaceutical company whose core business is contract manufacturing, and PhiloGene Inc., a biopharmaceutical company, announced today the signing of an agreement for the development and supply of PLG101 and PLG201, naturally occurring antagonists of vascular endothelial growth factor acting on VEGF Receptors 1 and 2, for the treatment of diabetic retinopathy and solid cancers.
As part of the collaboration, PPS will provide process development expertise and will supply clinical material to support the clinical development program for PLG101 and PLG201. In addition, PPS and PhiloGene agreed on potential longer term strategic manufacturing relationship between the companies.
"PPS and its employees are fully committed to assist PhiloGene Inc. in achieving the successful completion of clinical trials" said Meir Azulay, PPS Founder and Chief Executive Officer.
"We are excited about this agreement and look forward to working with PPS. Their know-how and expertise in the field of recombinant protein production allows PhiloGene Inc. to move forward with our development program. The protein produced so far has enabled PhiloGene to conduct safety pharmacology studies and prepare the material required to initiate toxicology studies. The safety pharmacological assessment performed to date indicate that PLG101 is well tolerated with no cardiovascular and renal findings” said Mendi Ze'evi, Ph.D., President of PhiloGene, Inc.
About PPS Ltd.
PPS Ltd., established in 2005, is an Israeli contract manufacturing organization. The company is dedicated to providing high quality services to accelerate product development, including scalable manufacturing capabilities for our clients and business partners. For more information, please visit PPS website at www.pps.co.il or address inquiries to elisheva@pps.co.il.
About PhiloGene, Inc.
PhiloGene, Inc. (www.philogene-inc.com) is a biopharmaceutical company focused on developing and commercializing novel protein therapeutics for unmet medical and patient needs. PhiloGene' in-depth knowledge of protein therapeutics has resulted in a unique approaches that exploit the therapeutic potential of native growth and differentiation factors. As a company, we are committed to improving the quality of life of patients. PhiloGene's most advanced program is based on naturally occurring antagonists of vascular endothelial growth factor acting on VEGF Receptors 1 and 2.
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