Moves into New Facility
TranXenoGen, Inc. ("TranXenoGen" or the "Company") the US-based avian transgenic technology company listed on the Alternative Investment Market of the London Stock Exchange (TXN.L), announces today that it has moved into its new Shrewsbury, Massachusetts facility. TranXenoGen purchased the building in January 2001 and has now completed phase one of the build-out. The facility houses its laboratories, offices and product development operations in 30,000 sq. ft of the 80,000 sq ft. building. The remaining space will be built out as additional research, production and purification capacity is required.
TranXenoGen specializes in the development of the application of second-generation transgenic technology for the production of high volume therapeutic proteins in the egg whites of transgenic chicken eggs. The objective is to provide a practical, effective production source for proteins in sufficient quantities to satisfy the increasing demand arising from the development of new protein-based drugs.
The Company has under development four generic biological products, one research monoclonal antibody and four partners monoclonal antibody products.
George Uveges, CEO commented:
"Our new state-of-the-art facility satisfies an immediate need for more space so that we can add the necessary resources to expand our research and product development efforts. The building also provides sufficient room for growth. The new facility will significantly improve our efficiency and allow us to add the equipment and people to take us to the next level."
The Companys new facility is located at 800 Boston Turnpike in Shrewsbury, Massachusetts.
Statements in this press release regarding our business which are not historical facts are "forward-looking statements" that involve risks and uncertainties which could cause the Company's actual results and financial condition to differ materially from those anticipated by the forward-looking statements. Actual results may differ materially from the statements made as a result of various factors, including, but not limited to sufficiency of cash to fund the Company's planned operations, risks associated with the inherent uncertainty of product research, risks of protecting proprietary rights and competition.
21 November 2001
TranXenoGen, Inc (www.tranxenogen.com)
George Uveges +1 508 842 5036
College Hill +44 20 7457 2020
Notes to Editors
TranXenoGen, Inc. (symbol: TXN.L) is a publicly listed company on the Alternative Investment Market of the London Stock Exchange. The Company specializes in the application of second-generation transgenic technology for the production of high volume human therapeutic proteins in the egg whites of transgenic chicken eggs.