UPDATE 1-BioSante inks deal for antibody production technology

* Says financial terms not disclosed

* Agreement grants a non-exclusive worldwide license

* Shares up 4 pct

April 26 (BestGrowthStock) – BioSante Pharmaceuticals Inc (BPAX.O: )
said it signed an option agreement for use of its antibody
production technology with an undisclosed pharmaceutical
company, sending its shares up as much as 5 percent in Monday
morning trade.

Details of the option agreement that grants the
pharmaceutical company a non-exclusive worldwide license for
the technology were not disclosed.

The 2A/Furin technology, which helps generate stable, high
producing antibody cell lines, is covered by four issued U.S.
patents, BioSante said in a statement.

The option period will last up to six months, at which time
the multi-national pharmaceutical company may exercise its
option to enter into a non-exclusive license for the use of the
technology.

Shares of BioSante were up 4.2 percent at $2.23 in morning
trade on Nasdaq. They had touched a high of $2.25 earlier in
the session.

Stock Market Today

(Reporting by Krishnakali Sengupta in Bangalore; Editing by
Roshni Menon)

UPDATE 1-BioSante inks deal for antibody production technology