BIOV Bioventus Inc. Class A Common Stock (MM)

GAITHERSBURG, Md., Aug. 11 /PRNewswire-FirstCall/ -- BioVeris Corporation (NASDAQ:BIOV) announced today that on August 9, 2005, it completed a Technology License Agreement with Baxter Healthcare Corporation for exclusive patent rights to a broad portfolio of vaccine candidates. Vaccines covered by the Agreement include those for the prevention of diseases caused by Group A streptococci, Group B streptococci, Pneumococci, Group B meningococci, anthrax bacilli and urinary tract infection (UTI) associated E. coli. Under the Agreement, BioVeris receives exclusive rights to patents or know-how related to the manufacture, production, use and commercialization of 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 2010, is required to pay a minimum annual royalty that is creditable against any other milestone payments and royalties. The vaccine portfolio covered by the Agreement is based on a conjugate technology platform and also includes recombinant protein antigens. The vaccine candidates are expected to complement and expand the existing intellectual property and vaccine candidates at BioVeris, which now has additionl comprehensive candidates for vaccines against bacterial meningitis, including that of streptococcal, pneumococcal and meningococcal origin. BioVeris' vaccine candidate portfolio addresses the need for vaccines against different organisms, including group A streptococci (of strep throat, impetigo, flesh-eating bacteria and streptococcal toxic shock syndrome), group B streptococci (of sepsis, meningitis, and pneumonia in newborns and adults), group B meningococci (of sepsis, meningitis, and pneumonia at any age), and E. coli (of UTI, predominantly for women). In addition, the vaccine candidate for disease caused by anthrax bacilli may provide a safer and better anthrax vaccine based on a recombinant protective antigen. Each of these vaccines could be candidates for entry into billion dollar global markets. BioVeris Corporation is a global integrated health care company developing proprietary technologies in diagnostics and vaccinology. The Company is dedicated to the commercialization of innovative products and services for healthcare providers, their patients and their communities. BioVeris is headquartered in Gaithersburg, Maryland. More information about the Company can be found at http://www.bioveris.com/ . This press release contains forward-looking statements within the meaning of the federal securities laws that relate to future events or BioVeris' future performance. All statements in this press release that are not historical facts, including any statements about the agreement with Baxter, financial commitments, market size and growth, and the utility or effectiveness of vaccine candidates are hereby identified as "forward-looking statements." The words "may," "should," "will," "expect," "could," "anticipate," "believe," "estimate," "plan," "intend" and similar expressions have been used to identify certain of the forward-looking statements. In this press release, BioVeris has based these forward-looking statements on management's current expectations, estimates and projections and they are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward- looking statements. Such forward-looking statements should, therefore, be considered in light of various important factors, including changes in general economic, business and industry conditions. The foregoing sets forth some, but not all, of the factors that could impact upon BioVeris' ability to achieve results described in any forward-looking statements. A more complete description of the risks applicable to BioVeris is provided in the Company's filings with the Securities and Exchange Commission (SEC) available at the SEC's web site at http://www.sec.gov/ . Investors are cautioned not to place undue reliance on these forward-looking statements. Investors also should understand that it is not possible to predict or identify all risk factors and that neither this list nor the factors identified in BioVeris' SEC filings should be considered a complete statement of all potential risks and uncertainties. BioVeris has no obligation to publicly update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this press release. DATASOURCE: BioVeris Corporation CONTACT: George Migausky of BioVeris Corporation, +1-301-869-9800, ext. 2013; investors: Jonathan Fassberg of The Trout Group, +1-212-477-9007, ext. 16; or media: Paul Caminiti or Andrew Cole of Citigate Sard Verbinnen, +1-212-687-8080 Web site: http:/www.bioveris.com

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