BioVeris Licenses Vaccine Portfolio From Baxter Healthcare
12 August 2005 - 8:00AM
PR Newswire (US)
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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