Children's in deal with Oxford BioMedica

Children's Hospital Boston said today that it reached an agreement with Oxford BioMedica Plc., a UK-based biotechnology company, that would extend the license agreement for two genes developed by the hospital to fight cancer.

Endostatin and angiostatin, the genes being licensed to Oxford BioMedica only for gene therapy, could suppress tumor growth by suppressing creation of blood vessels needed.

According to a press release, Oxford Biomedica will pay "an upfront payment, milestone payments and royalties on sales," although it declined to provide the exact details of the agreement reached.

In a separate agreement, Children's Hospital purchased a little over 240,000 shares of Oxford BioMedica for approximately $200,000.
(By Se Young Lee, Globe staff)