SpeciGen of Corvallis, MT Signs Agreement with Montana State University for Bio-Nanotechnology

SpeciGen http://specigen.com announced today that they have signed an exclusive license agreement with Montana State University (MSU), Bozeman, Montana for intellectual property covering novel protein cage based nanotechnologies.

SpeciGen CEO Lonnie Bookbinder, MBA, Ph.D. of Corvallis, Montana, stated: “This license allows SpeciGen to initiate research, development and manufacturing disciplines with a well developed technology for targeted delivery of novel diagnostic and therapeutic drugs. Additionally, through a Sponsored Research agreement, the Company will collaborate with a highly regarded team based at MSU, led by Dr. Mark Young and Dr. Trevor Douglas, co-founders of SpeciGen and co-founders of the Center for Bio-Inspired Nanomaterials at MSU.”

SpeciGen is an early stage developmental biotechnology company with a focus on drug delivery. The Company expects to compete in the global drug delivery products and services market, which is projected to surpass $67 billion in 2009. SpeciGen is a leader in the use of self-assembling and naturally-occuring protein cages or nanospheres for targeted drug delivery. A drug of interest can be readily incorporated inside the nanosphere and delivered to precise locations in the body where disease is present through the addition of externally attached targeting agents. Dr.Bookbinder commented: “The MSU nanotechnology includes a combination of concentrated site specific delivery and a controlled release of the drug, which is highly desired in the pharmaceutical industry because of the magnitude of the potential therapeutic benefits. The industry has already witnessed the rapid adoption of a less elegant system of drug delivery. It was proven to be more effective and safer than existing drugs, thus gaining a large market share, shortly after approval. We expect to follow a similar pathway in the diagnostic and therapeutic markets for our products.”

“The robustness of the MSU technology allows us to seek better improvements in diagnosis and drug therapy in broad medical markets. When we add an approved drug to our bio-nanospheres, we essentially create new matter, which is potentially patentable. There are a multitude of these combinations that are possible and with potential benefits across the field of medicine. Further, novel materials are achieved when we attach a targeting agent to the outside of the cage, which will improve both safety and efficacy. SpeciGen’s initial goal is to establish a manufacturing facility to be able to sell research products, develop our R&D program and provide our partners with scaled-up quantities of bio-nanospheres. Another goal is to develop a product to take to the market or to sell to a pharmaceutical company,” said Dr. Bookbinder.

Dr. Brian Campion, SpeciGen Vice-President of Corporate Development stated: “The ongoing relationship with Dr. Young and Dr. Douglas is an exceptional opportunity for SpeciGen, because they are highly recognized leaders in the field of nanotechnology. Collaborating with the MSU team rapidly accelerates our R&D efforts as well as facilitates our ability to scale up manufacturing by locating a facility close to MSU. We will employ well-known, FDA approved manufacturing methods, so we anticipate a smooth transition from the production in the lab to manufacturing in commercial quantities. This will allow SpeciGen to manufacture products for sale to academic, institutional and biopharmaceutical research organizations worldwide this year.”

Dr. Campion, further explained: “Although we characterize SpeciGen as a developmental start-up company, our starting point is more advanced due to the past and present work of our co-founding scientists, Dr. Young and Dr. Douglas. They are truly pioneers in protein cages and their research and publications are among the first in the bio-nanotechnology field, going back over ten years. However, the most exciting part of this collaboration is the present and future work that will be part of our sponsored applied research directed towards drug delivery. SpeciGen is fortunate to have developed relationships with MSU, our scientific co-founders, Dr. Young and Dr. Douglas and the Center for Bio-Inspired Nanomaterials.”

SpeciGen has applied for several grants to facilitate the manufacturing process development as well as R&D programs. The company has offices in Palo Alto, CA and Corvallis, MT as well as a plan to initiate manufacturing in Bozeman, MT. "I am excited to see the biotech industry is expanding in Montana," said Governor Brian Schweitzer. "It is great to see SpeciGen and Montana State University team up on this innovative project."

For More Information Contact:

Lonnie Bookbinder, CEO,

(406) 961-1382

[email protected].

SpeciGen Inc.

100 Hamilton Ave. Suite 225

Palo Alto, CA 94301