Viragen, Inc. and Cancer Research Technology Limited (UK) entered a license agreement that provides Viragen with worldwide exclusive rights to commercialize the anti-CD55 antibody, which is currently in preclinical development for the treatment of a broad range of cancers. Financial terms were not disclosed.

Viragen's president and CEO, Charles A. Rice stated, "As a monotherapy, or in combination with other anti-cancer therapies, we believe this antibody represents a potentially efficacious treatment for a broad range of tumours, including breast, ovarian and colorectal cancers."

Viragen recently reported that the anti-CD55 antibody, known as VG102, was able to enhance the action of Rituxan (Rituximab), resulting in the significant increase in the destruction of cancer cells in vitro, indicating the potential of the agent to be used effectively in combination with other therapies.

Viragen undertook this study initiative on its own behalf to determine the potential effects of co-therapy with the anti-CD55 antibody. The anti-CD55 antibody is not approved for sale in any market or territory, and human clinical trials will be required prior to seeking approval from any international regulatory agency. Rituxan is a registered property of Biogen Idec, Inc.

Viragen is developing the anti-CD55 antibody to block the protective effect of the protein CD55 on the surface of tumour cells. The protein CD55 is one of a number of proteins that protect normal healthy cells from being destroyed by the complement system, part of the human immune response against disease.