BioSante shares surge on antibody deal

Posted April 26, 2010 at 8:29 a.m.

Dow Jones Newswires | BioSante Pharmaceuticals Inc. said it
entered into a deal which carries an option for “a major pharmaceutical
company” to get a non-exclusive license to use BioSante’s antibody
technology. Shares gained 11.68 percent to $2.39 in recent premarket
trading. The stock through Friday was up 48 percent in 2010.

The agreement gives the undisclosed company six months to exercise an option to use BioSante’s 2A/Furin technology, which is able to generates cell lines that produce antibodies for commercial uses. Terms weren’t disclosed.

President and Chief Executive Stephen Simes said the deal “acknowledges the pharmaceutical industry’s interest in our 2A/Furin technology for its potential use in manufacturing antibodies.” And the drug developer is in discussion with other companies who may seek a license or other transactions of the technology.


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