Research Note: Cell Genesys (CEGE)

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RESEARCH NOTE: CELL GENESYS (CEGE)

Last Updated: April 04, 2008 - 3:37pm EST

NEW YORK: New York based Ludlow BioVentures has commenced research coverage on Cell Genesys (CEGE) commencing with the company's deal with Takeda Pharmaceutical Co involving Cell Genesys' prostate cancer treatment GVAX.

SUMMARY

Cell Genesys will receive $50 million up front from Takeda Pharmaceutical Co through a prostate cancer research deal. The transaction could be worth up to $320 million total if Cell Genesys' Phase III trials of GVAX prove to be successful.

As a result of this deal, Takeda Pharm will pay for GVAX's development and commercialization. Takeda will also pay royalties on any future sales of the treatement, which has been given coveted fast track status by the Food and Drug Administration. Additionally, Takeda will make milestone payments throughout the clinical trials if the treatement is approved by regulators. GVAX is currently entering two separate Phase III clinical studies.

With the successful closing of this transaction between these two companies coupled with the success of GVAX clinical trials thus far, Ludlow BioVentures has initiated coverage on CEGE and is adding CEGE to our client watch list.

Register here to receive updates on this research coverage, and on our upcoming NYC biotech investor conferences.

ABOUT CELL GENESYS, INC

Cell Genesys is focused on the development and commercialization of novel biological therapies for patients with cancer. The company is currently pursuing two clinical stage product platforms – GVAX™ cancer immunotherapies and oncolytic virus therapies. Ongoing clinical trials include Phase 3 trials of GVAX immunotherapy for prostate cancer, Phase 2 trials of GVAX immunotherapies for pancreatic cancer and for leukemia, and a Phase 1 trial of CG0070 oncolytic virus therapy for bladder cancer. Cell Genesys continues to hold an equity interest in its former subsidiary, Ceregene, Inc., which is developing gene therapies for neurodegenerative disorders. Cell Genesys is headquartered in South San Francisco, CA and has its principal manufacturing operation in Hayward, CA. For additional information, please visit the company’s website at www.cellgenesys.com

About Ludlow BioVentures, Inc

Based in New York City, Ludlow BioVenture is a venture capital and research advisory firm with a specific focus on the biotechnology sector. The goal of the firm is to promote investments into biotech ventures worldwide. Ludlow BioVentures owns and operates the Ludlow BioVenture Index, which tracks a wide basket of US traded large and small cap biotechnology stocks. www.ludlowcapital.com/bioventures/

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Contact:

Ludlow BioVentures, Inc.
Thomas J. Latino JD, PhD
Phone: (201)-245-4278
Email: tlatino@ludlowcapital.com

Disclosure: This is NOT a solicitation to Buy or Sell any security, but rather is for research purposes only. Content contained herein includes facts, views, opinions and recommendations of individuals and organizations deemed of interest. Ludlow BioVentures does not guarantee the accuracy, completeness or timeliness of, or otherwise endorse these views, opinions or recommendations, or give investment advice. Ludlow BioVentures, its affiliates, or directors, may or may not hold a position in the above security from time to time, and investors are encourage to consider this as a possible conflict of interest when reviewing this information. In Compliance with SEC Rule 17B Ludlow BioVentures was NOT compensated for the distribution of this research material, but may hold a position in the above securities in the Ludlow Biotech fund, and should thus be considered a possible conflict of interest when reviewing this report and information.

Disclaimer:
This is NOT a solicitation to Buy or Sell any security, but rather is for information purposes only. Content contained herein includes facts, views, opinions and recommendations of individuals and organizations deemed of interest. Ludlow Capital does not guarantee the accuracy, completeness or timeliness of, or otherwise endorse, these views, opinions or recommendations, give investment advice. Ludlow Capital, its affiliates, or directors, may possibly hold a position in the above security from time to time, and investors are encourage to consider this as a possible conflict of interest when review this information. In Compliance with SEC Rule 17B, Ludlow Capital was NOT compensated for adding this news alert to our website.

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