Lyon, France – November 4, 2009 - genOway(ALTERNEXT-NYSE EURONEXT: ALGEN ; ISIN : FR0004053510), the biotechnologycompany dedicated to the development of genetically modified animal models,today reports an important frameworkagreement with the University of Pennsylvannia (USA).
After an international competition, the company has been selected for aframework contract of a two years renewable period.
Through this agreement, researchers at the University of Pennsylvania whoseprestigious areas of study cover neurosciences, heart disease and metabolicdisorders will benefit from the expertise gained by genOway in transgenic technologyand technological innovations developed by the Company, such as induciblesystems that secure and accelerate the development of sophisticated geneticallymodified models of mice and rats.
Financial terms of the agreement were not disclosed.
Alexandre Fraichard, CEO ofgenOway, declared: « We are very pleased to become, after an internationalcompetition, the supplier of the University of Pennsylvania whose researchexcellence is internationally renowned. Our technologies fully meet the growingneeds of its academic researchers and this agreement perfectly demonstrates thevery strong commercial dynamic that we encounter with academic centers. Ourgrowth in 2010 and 2011 will come from these agreements with academic centerscombined to those reached with pharmaceutical companies. We should sign beforethe end of the year, at least two more framework agreements with researchcenters of excellence and renew one of our major pharmaceutical partnership.»
About The University of Pennsylvania(UPenn)
The University of Pennsylvania is a university with more than 24 000students and more than 4 500 researchers. It contains research centers amongthe most efficient in the world like TheMahoney Institute of Neurological Sciences (MINS). It is considered one of the top ten U.S. Universities and has a researchbudget of 730 million dollars.
AboutgenOway
genOway (ALTERNEXT-NYSE: ALGEN) is a biotechnologycompany developing genetically modified and high value-added research modelsfor the bio-pharmaceutical, chemical, agrochemical and food industry as well asfor academic research. With highly qualified scientific personnel, the companyhas a work force of 60 people and operates in over 22 countries in Europe, Asiaand North America, supplying more than 275 customers. genOway is a leader inits market in terms of both size and customer portfolios. The company’sdevelopment is founded upon both a broad and exclusive technology platform aswell as strong intellectual property rights combining patents and licensingagreements. Taking advantage of the global trend towards outsourcing theproduction of genetically modified research models, genOway has signed manycontracts with leaders of the pharmaceutical industry (Pfizer, Bayer,Boehringer Ingelheim, etc.), and with the most prestigious academic researchcenters (King’s College and the University of Manchester, in England; DukeUniversity and the National Institutes of Health, in the United States; theInstitut Pasteur, in France; NGFN and the Max Planck Institutes, in Germany,etc.). To strengthen its technological position and benefit from worldwidebusiness partners, genOway has signed strategic alliances with leadingcompanies in their field: Charles River Laboratories (NYSE: CRL, a world leaderin supplying laboratory animals), Invitrogen (NASDAQ: IVGN, world leader insupplying molecular biology reagents).
For more information please go to www.genoway.com.
Press relations: Marie Norbert - genOway - info@genoway.com
Contact for investors: Gaëlle Lebel , CFO – info@genoway.com
Milestones - press & investorrelations: Bruno Arabian /Jacques-Olivier Costa
Tel.: +33 (0)1 75 44 87 40 / 42 – E-mail:barabian@milestones.fr / jocosta@milestones.fr
Warning: This press releasecontains certain prospective statements, either express or implied, concerninggenOway and its activities. These statements rely on certain risks, eitherknown or unknown, uncertainties or other factors, that may lead to genOway’sactual results, financial condition, performance or achievements differingsignificantly from the results, financial condition, performance orachievements expressed or implied in these prospective statements. genOway isissuing this press release on the present date and is not committed to updatingthe prospective statements contained therein, either as a result of newinformation, future events or any other occurrence. For a detailed descriptionof the types of risks or uncertainties likely to cause a difference betweengenOway’s actual results, financial condition, performance or achievements andthose contained in the prospective statements, please refer to the section on “RiskFactors” in the prospectus available on the genOway website: www.genoway.com.
