Last checked at 27 Jan 2010 07:00
| For Immediate Release | 27 JANUARY 2010 |
OXFORD BIOMEDICA AND BAVARIAN NORDIC ANNOUNCE SETTLEMENT OF MVA-BN® LITIGATION AND CROSS LICENSE OF PATENTS
Oxford, UK - 27 January 2010: Oxford BioMedica (LSE: OXB) and Bavarian Nordic (OMX: BAVA) announced today that they have reached a global settlement ending the legal disputes between the two companies.
The settlement and cross-license agreement resolve the patent litigation by Bavarian Nordic before the US District Court for the Southern District of California, and Oxford BioMedica's oppositions to Bavarian Nordic's European MVA-BN® patents.
Under the settlement and cross-license agreement Bavarian Nordic will grant a license to its MVA-BN® patents in return for Oxford BioMedica granting a license to its heterologous prime-boost patents and a sub-license under poxvirus patents licensed to Oxford BioMedica by sanofi-aventis. Both Bavarian Nordic and Oxford BioMedica will make undisclosed milestone and royalty payments on the future development of their respective products.
Under the settlement, the terms of which are confidential, all pending litigation will cease and all oppositions filed against Bavarian Nordic's patents at the European Patent Office by Oxford BioMedica will be withdrawn. In addition both companies have agreed to initiate business discussions concerning a possible future collaboration based on each company's expertise in poxvirus vaccines and Bavarian Nordic's commercial manufacturing capability.
In a joint statement, John Dawson, CEO of Oxford BioMedica, and Anders Hedegaard, CEO of Bavarian Nordic, commented: "This settlement brings to an end the legal disputes between the two companies and provides a basis for both companies to progress their respective vaccine businesses."
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| For further information, please contact: | |
| Oxford BioMedica plc: John Dawson, Chief Executive Officer Nick Woolf, Chief Business Officer | Tel: +44 (0)1865 783 000 |
| JPMorgan Cazenove Limited: James Mitford/ Gina Gibson | Tel: +44 (0)20 7588 2828 |
| Media/Financial Enquiries: Lisa Baderoon/ Mark Court Buchanan Communications | Tel: +44 (0)20 7466 5000 |
| US Enquiries: Thomas Fechtner The Trout Group LLC | Tel: (646) 378 2900 |
Notes to editors
1. Oxford BioMedica®
Oxford BioMedica (LSE: OXB) is a biopharmaceutical company developing innovative gene-based medicines and therapeutic vaccines that aim to improve the lives of patients with high unmet medical needs. The Company's technology platform includes a highly efficient gene delivery system (LentiVector®), which has specific advantages for targeting diseases of the central nervous system and the eye; and a unique tumour antigen (5T4), which is an ideal target for anti-cancer therapy. Through in-house and collaborative research, Oxford BioMedica has a broad pipeline and its partners include sanofi-aventis, Sigma-Aldrich and Pfizer (formerly Wyeth). Technology licensees include Biogen Idec, GlaxoSmithKline, Merck & Co and Pfizer. Further information is available at www.oxfordbiomedica.co.uk
2. Bavarian Nordic
Bavarian Nordic (OMX: BAVA) is a leading industrial biotechnology company developing and producing novel vaccines for the treatment and prevention of life-threatening diseases with a large unmet medical need. The company's business strategy is focused in three areas: biodefence, cancer and infectious diseases. With operations in Denmark, Germany, the USA, and Singapore, Bavarian Nordic employs over 350 people. Bavarian Nordic's patented technology, MVA-BN®, is as been demonstrated in clinical studies, one of the world's safest, multivalent vaccine vectors for the development of vaccines against various infectious diseases such as smallpox, HIV/AIDS, as well as against breast and prostate cancer. Several MVA-BN®-based HIV, cancer and smallpox vaccines are in clinical Phase I and Phase II trials. www.bavarian-nordic.com