19th Oct 2016 07:23
LONDON (Alliance News) - Horizon Discovery Group PLC on Wednesday said it has signed a new licensing agreement with an unnamed commercial partner, valued at a minimum of GBP500,000.
The gene editing technology firm said that under the deal, the commercial partner will gain immediate access to one of Horizon's bioproduction cell lines for an indefinite period of time in order to manufacture novel therapeutics.
The partner also will gain early access to Horizon's programme of continuous cell-line innovation, enabling it to license any follow-on cell lines developed as part of the programme at a 50% discount within a five-year period.
The license deal follows an evaluation period which was initiated in the fourth quarter of 2015, Horizon said.
"This new announcement further validates our approach, with our partner demonstrating its confidence by making a five-year commitment via subscription model to the program," said Chief Executive Darrin Disley.
Shares in Horizon were trading flat at 137.50 pence on Wednesday morning.
By Hannah Boland; [email protected]; @Hannaheboland
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