Cellectis and Regeneron Sign an Agreement Over the use of Homologous Recombination Technology

    BIOCITECH, France, July 3 /CNW/ - Cellectis SA today announced the
signature of an agreement with Regeneron Pharmaceuticals, Inc. over the use of
Cellectis' patents covering certain uses of homologous recombination for the
generation of innovative human therapies, including the development of fully
human monoclonal antibodies. As part of the agreement, Cellectis will receive
an upfront of 12,450,000$ from Regeneron. In addition, Regeneron will invest
in Cellectis' equity.
    The agreement resolves a dispute between the two companies related to the
interpretation of a license agreement entered into by and between Cellectis
and Regeneron in December 2003 pursuant to which Regeneron licensed certain
patents and patent applications relating to a process for the specific
replacement of a copy of a gene in the receiver genome by homologous
recombination. Pursuant to the agreement, Regeneron will make an up-front
payment to Cellectis in the amount of $12,450,000. In addition, Regeneron will
pay Cellectis a low single-digit royalty based on revenue received by
Regeneron from any future licenses or sales of Regeneron's VelociGene(R) or
VelocImmune(R) products and services. No royalties are payable with respect to
Regeneron's VelocImmune license agreements with AstraZeneca UK Limited and
Astellas Pharma Inc. or Regeneron's November 2007 collaboration agreement with
sanofi-aventis. Moreover, due to other considerations in the agreement, no
royalties are payable on any revenue from commercial sales of antibodies from
Regeneron's VelocImmune technology.
    Regeneron and Cellectis also entered into a Subscription Agreement
pursuant to which Regeneron will acquire 368,301 ordinary shares of Cellectis,
par value EUR 0.05 per share, at a price of EUR 8.63 per share, for a total of
EUR 3,178,437.63. The subscription is contingent upon the prior approval of
the board of directors of Cellectis and by the shareholders of Cellectis at an
extraordinary general meeting to be held no later than October 30, 2008.

    About the licensed patents:

    The agreement relates to Institut Pasteur's patents covering certain uses
of homologous recombination (US patents No. 6 528 313, 6 638 768 and 6 528
314, Japanese patents No. 3059481, No. 3298842 and No. 3298864 and European
patents EP No. 419 621 and No. 682 112). As the exclusive licensee of these
patents, Cellectis has access to the process of targeted integration of DNA

For further information:

For further information: Cellectis S.A., David J.D. Sourdive, Ph. D, VP
Corporate Development, Tel.: +33-(0)-1-41-83-99-00, e-mail:
sourdive@cellectis.com, www.cellectis.com; Alize Public Relations, Caroline
Carmagnol, Tel.: +33-(0)-6-64-18-99-59, e-mail: caroline@alizerp.com

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