Procognia Signs Distribution and Marketing License Agreement with Leading Life Science Japanese Company – CTCLS
Procognia's President and CEO, Alon Natanson, said: "We are proud to announce that we have signed a distribution and marketing license agreement with CTCLS, a leading Japanese life science company, for the sales and marketing of our glycoanalysis product GlycoScope™."
TEL AVIV, Israel–(BUSINESS WIRE)–Procognia announced today that, on July 11th, 2011, the company signed an agreement with CTC Laboratory System Corporation (CTCLS). According to this agreement, Procognia will grant CTCLS a non-exclusive license to sell, distribute and market the glycoanalysis product, the GlycoScope™ in Japan. CTCLS will receive some percentage from the revenue based on agreed transfer price between the companies. CTCLS will be responsible for all the sales and marketing activities of the GlycoScope™ and will bare all the costs relating to these activities in Japan.
As a unique member of Itochu Techno-Solutions Corporation (CTC), CTCLS has evolved into one of Japan's leading solution providers that specializes in the integration of R&D support systems for life sciences companies. With incomparable end-to-end solution capability, CTCLS serves pharmaceutical, chemical and food manufacturers, as well as universities and public offices. It offers a wide range of products and services that cover every stage of R&D activities to achieve a high level of customer satisfaction and trust. CTCLS will provide Procognia with marketing, selling, distribution, professional services and full local support to customers in a wide variety of vertical markets.
GlycoScope™ is an analytical tool designed specifically for pharmaceutical companies and research labs. It is used to identify the glycosylation structure of glycoproteins during the research, development, and production phases of biological drugs, and can also be used for other applications such as stem cell research, vaccine development, and more.
Many new drugs currently entering the market are biological drugs, and most of them include glycoproteins. Understanding and analyzing the glycosylation structure of these glycoproteins is crucial for the successful functioning of the drug in the human body, as they may affect the drug's activity, immunogenicity and pharmacokinetics. For these reasons, the need for effective and precise
glycoanalytical tools will only increase. Procognia's technology is entering the market at a perfect timing: when the need for such a technology is increasing, after Procognia has successfully passed its initial teething stage, and when the technology has been launched in a number of leading biopharmaceutical companies.
Alon Natanson, President and CEO of Procognia, stated: "This is a very important milestone for us. Procognia is a company with scientific capabilities and advanced technologies that is now collaborating with a major partner in order to market and distribute the company's unique analytical tool in Japan.
Having completed the development of the analytical platform, and after a trial period, we have successfully brought the product to maturity. The next logical step is cooperation with a strategic partner that can promote our technology and introduce it to the market. CTCLS is a leading player in the life science sector in Japan, particularly among biopharmaceutical companies, and is the ideal partner for us. This marketing and distribution agreement we have signed with CTCLS is a show of confidence in Procognia's technology by a professional and dominant players in the Japanese biotechnology market. We strongly believe in CTCLS's ability to successfully introduce our technology to the Japanese market, and to transform it into a standard for protein glycoanalysis in a variety of applications."
General Manager of CTCLS Mr. Yusuke Tanabe stated: "We could not be more pleased to work with Procognia which is world-leading position in the field of glycobiology, with special expertise in glycoanalysis. GlycoScope™, accurate analysis of protein glycosylation, is crucial for a range of applications, including process development & manufacturing of biopharmaceuticals, life science & pharma research. We believe that this collaboration will contribute for growth of Japanese life science industry and academic research