PARIS, Jan. 20, 2011 (GLOBE NEWSWIRE) -- Cellectis (Alternext: ALCLS), the French genome engineering specialist, has announced today that it has signed an exclusive license agreement with the University of Minnesota that grants Cellectis the worldwide right to use inventions related to TAL effector-mediated DNA recognition and cleavage. This revolutionary approach for the targeted modification of genomes was developed by the University of Minnesota and Iowa State University.
The exclusive license granted to Cellectis covers all uses of the technology in any field. The technology has shown promising results in genome engineering and is complementary to Cellectis' proprietary meganuclease technology.
"Cellectis is making further progress in implementing its external growth policy by investing the capital raised in 2009 in the most promising technology, products and human resources that add value to, and are aligned with, our core business." explained Andre Choulika, CEO of Cellectis. "Our teams are already leveraging this new technology and the first research reagents based on it are expected to come onto the market within twelve months".
Financial details were not disclosed.
Cellectis is a pioneer in the field of genome engineering. The company designs and markets innovative tools -meganucleases. These molecular scissors enable targeted modifications to DNA, with applications in the research, biomanufacturing, agrobiotechnology and therapeutic sectors.
To date, Cellectis has formed over 20 academic research partnerships and has established more than 50 agreements with pharmaceutical laboratories, seed producers and biotech companies across the world. The company holds exclusive rights to a portfolio of over 260 patents granted or pending.
Since 2007, Cellectis has been listed on the NYSE-Euronext Alternext market (code: ALCLS) in Paris and has secured over €70 million in funding since inception.
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This press release and the information contained herein do not constitute an offer to sell or subscribe, or a solicitation of an offer to buy or subscribe, for shares in Cellectis in any country. This press release contains forward-looking statements that relate to the Company's objectives. Such forward-looking statements are based on the current expectations and assumptions of the Company's management only and involve risk and uncertainties. Potential risks and uncertainties include, without limitation, whether the Company will be successful in implementing its strategies, whether there will be continued growth in the relevant market and demand for the Company's products, new products or technological developments introduced by competitors, and risks associated with managing growth. Unfavorable developments in connection with these and other risks and uncertainties described, in particular, in the Company's prospectus prepared in connection with its IPO and on which the French Autorite des marches financiers ("AMF") granted its visa no. 07-023 on January 22, 2007, could cause the Company to fail to achieve the objectives expressed by the forward-looking statements above.
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