Pharmexa grants PADRE® license to ImmunoVaccine Technologies Inc.
Summary: Pharmexa has granted a non-exclusive license for its PADRE® immunostimulatory peptides to Immunovaccine Technologies, Inc.
Pharmexa has entered into a license agreement with ImmunoVaccine Technologies Inc. (IVT) of Halifax, Nova Scotia for the use of PADRE® immunostimulatory peptide(s) with IVT’s VacciMax® vaccines. IVT has a non-exclusive right to use PADRE® in combination with up to three different targets for its vaccines. The agreement includes up-front and future payments as well as royalties on sales. Financial details were not disclosed and the agreement will not effect Pharmexa’s financial forecasts for 2006.
The PADRE® peptides are a family of proprietary synthetic molecules that are potent, “universal” stimulators of helper T cells. When combined with vaccines, PADRE® potentiates both the humoral and cellular immune responses to the vaccine. PADRE® is an integral component of some of Pharmexa’s vaccines in cancer and infectious diseases and was acquired as part of the assets purchased from IDM Pharma resulting in the formation of Pharmexa-Epimmune based in San Diego, California.
Marc Hertz, CEO of Pharmexa-Epimmune, said: “This agreement is a good example of the value of the Epimmune assets we recently acquired from IDM Pharma. IVT has an exciting vaccine technology and we are confident the addition of PADRE® will result in even better vaccines.”
Dr. Warwick Kimmins, the President of ImmunoVaccine Technologies Inc. (IVT) stated: “We are delighted to be working with Pharmexa. The combination of IVT’s VacciMax® technology with the PADRE® adjuvant from Pharmexa provides a very strong technology for the development of innovative cancer vaccines.”
Hřrsholm, August 24, 2006
Chief Executive Officer
Note to editors: Pharmexa A/S is a leading company in the field of active immunotherapy and vaccines for the treatment of cancer, serious chronic and infectious diseases. Pharmexa’s proprietary technology platforms are broadly applicable, allowing the company to address critical targets in cancer, rheumatoid arthritis, bone degeneration and Alzheimer’s disease, as well as serious infectious diseases such as HIV, influenza, hepatitis and malaria. Its leading programs are GV1001, a peptide vaccine that has entered phase III trials in pancreatic cancer and is expected to enter a phase II trial in liver cancer soon, as well as a number of HIV and hepatitis vaccines in phase I/II. Collaborative agreements include H. Lundbeck, Innogenetics, IDM Pharma and Bavarian Nordic. With operations in Denmark, Norway and USA, Pharmexa employs approximately 100 people and is listed on the Copenhagen Stock Exchange under the trading symbol PHARMX.
IVT is a biotechnology company based in Halifax, Nova Scotia, Canada, focused on commercialization of a proprietary vaccine enhancement platform, trade named VacciMax®. IVT’s human health vaccines are in a pre-clinical stage with products in development for whooping cough, influenza, breast cancer, cervical cancer and melanoma.
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- Chief Executive Officer
- Pharmexa A/S
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