CytoDyn, Inc., a development stage biotechnology company, and UTEK Corporation a specialty finance company focused on technology transfer, announced that CytoDyn has acquired Advanced Influenza Technologies, Inc. (AITI), a wholly owned subsidiary of UTEK, in a stock transaction. AITI holds the license for a DNA-based, Influenza vaccine candidate, developed at the University of Massachusetts Medical School (UMMS) in Worcester, MA.

"Years effort has been expended, developing DNA-based vaccine technology at UMMS", stated James McNamara, PhD, Executive Director of the Office of Technology Management at the UMMS. He added, "We hope to see that work successfully commercialized, through this licensing agreement so that the public may benefit".

"UTEK is pleased to consummate this technology, transfer with CytoDyn, Inc. and we look forward to continuing our efforts to identify additional technology acquisition opportunities for its consideration," said Jeffrey D. Bleil, PhD, Chief Technology Officer of UTEK Corporation.

UTEK is a specialty finance company focused on technology transfer. UTEK enables companies to acquire innovative technologies from universities and research laboratories worldwide. UTEK facilitates the identification and then finances the acquisition of external technologies for clients in exchange for their equity securities.