BioVeris Completes Additional Vaccine License
January 25 2007 - 9:00PM
PR Newswire (US)
New License Adds Neisseria meningitidis group Y and Haemophilus
influenzae type b to Bioveris's Vaccine Candidate Portfolio
GAITHERSBURG, Md., Jan. 25 /PRNewswire-FirstCall/ -- BioVeris
Corporation (NASDAQ:BIOV) announced today that it has entered into
a new Technology License Agreement with Baxter Healthcare
Corporation. BioVeris received an exclusive, worldwide license to
certain patent rights and know-how to use Neisseria meningitidis
group Y and Haemophilus influenzae type b (Hib) components in new
vaccine candidates for the prevention of invasive disease,
including meningitis, sepsis and pneumonia. These new vaccine
candidates, which may be used in combination with other 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 exclusive
rights, subject to potential future modification, to patents and
know-how related to the manufacture, production, use, marketing,
distribution and sale of the vaccine or vaccine combination
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. In
December 2006, BioVeris licensed from Baxter the nonexclusive,
worldwide patent rights and know-how to use Neisseria meningitidis
group C vaccines as a component in new vaccine candidates for the
prevention of meningitis and sepsis. 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 B meningococci, group A streptococci, group
B streptococci and pneumococci. 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. Hib
disease predominantly occurred as meningitis during the pre-vaccine
era in the United States, originally accounting for 50-65 percent
of cases. Presently there are licensed Hib vaccines available and
recommended as part of the childhood immunization schedule, but
none are licensed in combination with other bacterial vaccines for
infants in the United States. BioVeris Corporation is a global
health care and biosecurity company developing proprietary
technologies in diagnostics and vaccinology. The Company is
dedicated to the development and commercialization of innovative
products and services for healthcare providers, their patients and
their communities. BioVeris is headquartered in Gaithersburg,
Maryland. Further information about BioVeris is available 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; or Jonathan Fassberg
(investors) of The Trout Group, +1-212-477-9007, ext. 16, or Paul
Caminiti or Andrew Cole (media) of Citigate Sard Verbinnen,
+1-212-687-8080, all for BioVeris Corporation Web site:
http://www.bioveris.com/
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