For its part, TransGenRx will manufacture the product exclusively for Novocyt, and Novocyt will pay product development costs. In addition, TransGenRx will be the exclusive supplier for clinical trials and commercialization.
TransGenRx will initially supply research-grade material, said Richard Cooper, professor in the LSU AgCenter School of Animal Sciences and chief science officer for TransGenRx. When the product is proved to work biologically, TransGenRx will produce commercial quantities for human clinical trials.
The seven-year agreement gives Novocyt an option to extend the term for an additional seven years.
“This contract validates the value of our technology,” Cooper said. “But more important, it’s a huge step closer to AgCenter spin-off technology being commercialized.”
This class of growth factors has been shown in a number of animal models to be effective in wound healing, the development of new blood vessels and the regrowth of nerve tissue, Cooper added.
Headquartered in Clearwater, Fla., Novocyt develops, manufactures and markets advanced and innovative protein solutions for wound healing and neuro-regnerative technology.