>>BioVeris Completes New Vaccine License
Tuesday December 26, 4:30 pm ET
Combination Vaccine Candidates Will Use Neisseria meningitidis Group C Components
GAITHERSBURG, Md., Dec. 26 /PRNewswire-FirstCall/ -- BioVeris Corporation (Nasdaq: BIOV - News) announced today that it has entered into a Technology License Agreement with Baxter Healthcare Corporation. BioVeris received nonexclusive, worldwide patent rights and know-how to use Neisseria meningitidis group C vaccine as a component in new vaccine candidates for the prevention of meningitis and sepsis. The new combination vaccine candidates would consist of the Neisseria meningitidis group C components and additional vaccine candidates to protect against other disease causing organisms. These new combination vaccines are expected to have the advantage of reducing the number of injections that a child would receive during a single office visit.
Under the Technology License Agreement, BioVeris receives nonexclusive rights to patents and know-how related to the development, testing, or use, and under certain circumstances, limited rights to manufacture the vaccine candidates. The Company paid a license issue fee and may also make additional future payments for patent costs, milestone fees for initiating and completing human clinical trials and receiving regulatory approvals. The Company is also required to pay royalties on product sales and, beginning in 2011, is required to pay a minimum annual royalty that will be reduced by the amount of any milestone payments and royalties payable to Baxter under the Technology License Agreement for the applicable calendar year.
BioVeris already has licensed from Baxter and others, exclusive rights to commercialize products for possible use in the prevention, diagnosis and treatment of disease caused by Group A streptococci, Group B streptococci, Pneumococci, and Group B meningococci. The vaccine candidates covered by the new Technology License Agreement are similarly based on a conjugate technology platform and also include recombinant protein antigens. These vaccine candidates are expected to complement and expand the existing intellectual property and vaccine candidates at BioVeris.
Meningococcal disease, as meningitis or sepsis, is a bacterial infection that strikes approximately 1.2 million people worldwide each year, resulting in over 100,000 deaths. Of the 1400-2800 cases occurring annually in the United States, 10-14 percent of the patients will die. For the survivors, 11- 19 percent suffer long-term permanent disabilities such as hearing loss, brain damage and limb amputations. Meningococcal disease often begins with symptoms that can be mistaken for common viral illnesses, such as the flu. It can progress very rapidly and kill an otherwise healthy young person in 48 hours or less. Communitywide outbreaks of meningococcal disease can persist for several months and controlling them remains a major challenge in public health.<<
snip
So the vaccine program is doing something, but it seems very early. The stock is up a few percent after hours. It has been on a roll with hints of catching Roche again. But I imagine Roche will use shredders more effectively this time.
Cheers, Tuck |
