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AnGes MG, FALCO biosystems to Form Business Alliance in Gene Therapy Business.

Tokyo, Japan, Nov 30, 2005 - (JCN) - AnGes MG announced on November 29 that it has reached a basic agreement with FALCO biosystems to form a business alliance in the field of gene therapy. Specifically, the two companies will jointly build a technical base for genetic tests and collaborate in screening and analysis.

In addition, AnGes' subsidiary GenomIdea and FALCO have partnered to develop gene analysis methods. Under this alliance, the two companies will strive to devise methods for analyzing cardiovascular disease-related genes currently discovered by GenomIdea.

Through these means, the companies aim to accelerate the development of gene therapy and medicine. Regarding the above alliances, AnGes and GenomIdea will receive upfront payments from FALCO while FALCO will accept a private placement by GenomIdea.

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Publication:JCNN News Summaries
Date:Dec 1, 2005
Words:133
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