Acambis wins second smallpox vaccine contract
Cambridge, UK - 28 November 2001 - Acambis plc ("Acambis") (LSE: ACM,
NASDAQ: ACAM) announces that its US subsidiary, Acambis Inc., has been
awarded a second contract by the US Centers for Disease Control and
Prevention ("CDC") to produce smallpox vaccine. This second contract is to
produce 155 million doses of smallpox vaccine within the next 12 months.
The value of this new, fixed-price contract is $428 million.
Acambis was awarded this contract following a competitive tender process and
was the only company to be awarded a contract under this latest process.
For the purposes of performing this second contract, Acambis has teamed up
with Baxter BioScience ("Baxter"), the biotechnology business of Baxter
Healthcare Corporation. Baxter and Acambis will each contribute towards the
manufacturing process.
Acambis, as prime contractor, will be responsible for ensuring delivery of
155 million doses of vaccine to the CDC within the next 12 months, the
revenue from which will be receivable in that period. In addition, the
contract includes the funding of an accelerated clinical development plan
with the objective of obtaining FDA approval of the vaccine as rapidly as
possible. Under Acambis' plan, application for product approval is
scheduled for mid-2003 and funding for this plan will be spread over 2002
and 2003. The first clinical trials of Acambis' vaccine are scheduled to
start early in 2002.
In September 2000, Acambis was awarded its first contract by the CDC to
develop and manufacture a stockpile of smallpox vaccine. The first contract
was valued at $343 million and requires Acambis to maintain the stockpile
over the 20-year life of the contract through the continued replacement of
out-of-date doses. This first contract was recently amended to bring
forward production of 54 million doses of vaccine in 2002 and to accelerate
the clinical development plan relating to the vaccine being developed under
that contract.
The award of the second contract means that Acambis will now be supplying
the US Government with a total of 209 million doses of smallpox vaccine
during 2002. It also means that Acambis will be pursuing parallel,
accelerated clinical testing plans to obtain product approvals for each of
the smallpox vaccines being developed under each contract.
Dr John Brown, Chief Executive Officer, Acambis, said:
"We are pleased to be able to assist in the US Government's campaign to
combat the threat of bioterrorism. Being the only recipient of a new
contract under this latest award is testament both to our world-leading
expertise in the development of anti-viral vaccines and to the considerable
experience we have gained through developing our smallpox vaccine during the
past year. The progress we have already made on our existing contract makes
us ideally placed to deliver the US Government's requirements under this new
contract."
-ends-
A conference call for UK analysts will take place at 10.00 am (UK time) on
Thursday, 29 November. A conference call for US analysts will take place at
2.30 pm (UK time), 9.30 am EST. Please call Claire Rowell on +44 (0) 20 7269
7116 for further details.
Enquiries:
Acambis
Dr John Brown, Chief Executive Officer
Lyndsay Wright, Communications Manager
Wednesday, 28 Nov: +44 (0) 1223 275 300
Thursday, 29 Nov: +44 (0) 7831 3113
Thereafter: +44 (0) 1223 275 300
Gordon Cameron, President, Acambis Inc. and Chief Financial Officer
Tel: +1 (617) 494 1339
Financial Dynamics
David Yates/Fiona Noblet
Tel: +44 (0) 20 7831 3113
Notes to editors:
Acambis
Acambis is a biopharmaceutical company discovering, developing and
manufacturing vaccines to prevent and treat infectious diseases. It has
operations in Cambridge, UK, and in Cambridge, Massachusetts, USA. It has a
broad portfolio of vaccine product candidates undergoing clinical trials and
technology platforms that provide the basis for further vaccine product
candidates.
Acambis' smallpox vaccine
Acambis' new smallpox vaccine is based on the same vaccinia virus strain
that was licensed in the US and used for routine immunization against
smallpox prior to the global eradication of smallpox in the 1970s.
Relationship with Baxter
In September 2000, Acambis established a strategic alliance with Baxter.
Baxter is investing £27.8 million in Acambis, ultimately resulting in Baxter
owning 20% of Acambis. Today, Baxter's shareholding in Acambis is 12.6%.
Acambis and Baxter also have several commercial agreements relating to
manufacturing, technology transfer and marketing. Under this second CDC
smallpox contract, Baxter will contribute towards the manufacturing process
and to certain other aspects of delivery of the final vaccine product to the
CDC.
Smallpox vaccination
Vaccinia (cowpox) vaccines have been used to control smallpox for more than
200 years, ever since Dr Edward Jenner's first experiments in 1796. Immunity
develops rapidly following vaccination, generally being protective even in
people already exposed to smallpox and incubating the virus but not yet
clinically ill. In addition to its ability to protect those exposed to
smallpox, the vaccine can be used to "contain" an outbreak of smallpox,
which is only transmitted person-to-person, in much the same way as a
fire-break is used to prevent the spread of a forest fire. By immunizing
people in the proximity of a confirmed case of smallpox, the spread of
infection can be inhibited. Vaccinia is delivered by pricking the skin with
a special (bifurcated) needle.
This, and other news releases relating to Acambis, can be found on the
Company's website at www.acambis.com
This news release contains forward-looking statements that involve risks and
uncertainties, including the timing and results of clinical trials and other
product development and commercialisation risks, the risks of satisfying the
regulatory approval process in a timely manner, the need for and the
availability of additional capital, and other risks detailed in the
Company's filings with the Securities and Exchange Commission. These
forward-looking statements are based on estimates and assumptions made by
the management of Acambis and are believed to be reasonable, though are
inherently uncertain and difficult to predict. Actual results or experience
could differ materially from the forward-looking statements. |
