SAN FRANCISCO (Thomson Financial) - Cell Genesys Inc. said Thursday it agreed to sell its lentiviral gene delivery technology to GBP IP LLC, an affiliate of GBP Capital, for $12 million.
GBP Capital is the majority shareholder in privately held Lentigen Corp. Under the agreement, GBP IP plans to acquire the intellectual property and previously established licensing agreements relating to the lentiviral gene delivery technology. Cell Genesys will retain rights to use the technology for research and development purposes, including potential future use with cancer immunotherapy products.
Shares of Cell Genesys, the South San Francisco, Calif.-based biotechnology company, rose 4 cents to $2.43.
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