CHARLESTON, S.C., GAINESVILLE, Fla., and CAMBRIDGE, Mass., Nov. 18, 2015 (GLOBE NEWSWIRE) -- Applied Genetic Technologies Corporation (Nasdaq:AGTC), a biotechnology company conducting human clinical trials of adeno-associated virus (AAV)-based gene therapies for the treatment of rare eye diseases, today announced that it has received the award for Southeast Strategic Deal of the Year at the Southeast BIO (SEBIO) Investor & Partnering Forum, which took place from November 11-13, 2015 in Charleston, SC. The award recognizes AGTC for its broad collaboration and license agreement with Biogen.
"On behalf of the SEBIO Awards Committee, I would like to congratulate AGTC on this collaboration, which will result in benefits for patients worldwide through the combination of AGTC's experience in gene therapy and ophthalmology with Biogen's strength and experience in developing and marketing therapies for complex and rare diseases," said Thomas H. Callaway, MD, MBA, Venture Partner at HealthQuest Capital and Chair of the SEBIO 2015 Awards Committee. "AGTC has established itself as a leader in the southeast life sciences community, as exemplified by this innovative partnership with one of the world's most established and noteworthy biotechnology companies."
AGTC & Biogen's broad collaboration and license agreement, announced in July, 2015, is for the development of gene-based therapies for multiple ophthalmic diseases. The collaboration focuses on the development of a portfolio of AGTC's therapeutic programs, including both a clinical stage candidate and a pre-clinical candidate for orphan diseases of the retina that can lead to blindness in children and adults. The agreement also includes options for early stage discovery programs in two ophthalmic diseases and one non-ophthalmic condition, as well as an equity investment in AGTC by Biogen and a license agreement for manufacturing rights.
"We're very pleased to be recognized by the community for our strategic collaboration that is of great significance not only to AGTC but to the development of gene-based therapies for patients with unmet medical needs," said Sue Washer, President and CEO of AGTC and SEBIO Chairperson. "It is especially rewarding for SEBIO to recognize this important milestone, because this collaboration is proof that ideas originating from the great research happening in southeastern universities can make a difference in the worldwide biotechnology industry, with support from the vibrant professional community and organizations like SEBIO."
Southeast BIO (SEBIO) is a regional non-profit organization that fosters the growth of the life sciences industry in the Southeastern United States through efforts that promote entrepreneurship and bring together the key players active in the development of the industry. SEBIO's geographic footprint includes Alabama, Florida, Georgia, North Carolina, South Carolina, Tennessee and Virginia. SEBIO focuses on key industries within the life sciences, including: bio/pharma, medical devices and technology, agricultural biotechnology, animal health, bioinformatics and biomaterials.
AGTC is a clinical-stage biotechnology company that uses its proprietary gene therapy platform to develop products designed to transform the lives of patients with severe diseases in ophthalmology. AGTC's lead product candidates focus on inherited orphan diseases of the eye, caused by mutations in single genes that significantly affect visual function and currently lack effective medical treatments.
CONTACT: David Carey (IR) or Danielle Lewis (PR) Lazar Partners Ltd. T: (212) 867-1768 or (212) 843-0211 firstname.lastname@example.org or email@example.com Corporate Contact: Larry Bullock Chief Financial Officer Applied Genetic Technologies Corporation T: (386) 462-2204 firstname.lastname@example.org
Source:Applied Genetic Technologies