GenVec Inc. of Rockville said yesterday that it will work with a Japanese pharmaceutical company to develop cancer-fighting gene therapies.
Under an agreement between GenVec and Fuso Pharmaceutical Industries Ltd. of Osaka, the two companies will work on research, development and commercialization of gene therapies for the treatment of cancer.
The agreement gives GenVec unspecified "product development-related milestone payments" and research funding for up to five years. Fuso also has purchased an unspecified equity stake in GenVec.
The deal gives Fuso commercialization rights in Japan and options for commercialization in South Korea and Taiwan. GenVec retains commercialization rights in the rest of the world. The Rockville-based company will also receive royalties on products commercialized by Fuso.
"Fuso is committed to leveraging their current leadership position in the manufacture and marketing of injection, infusion and dialysis solutions to pursue innovative gene-based therapies using advanced biotechnology," said Paul Fischer, GenVec's chief executive.
Pub Date: 4/21/98
