RIGHTS REGAINED TO TROVAX®
Analyst Meeting Today
Please note that at 10am today there will be an Analyst meeting in the offices of Buchanan Communications, 45 Moorfields, London, EC2Y 9AE. Running simultaneously to the meeting will be a webcast and conference call facility, to join the conference call please dial the following: +44 (0)20 8609 1435 and use pin code: 119220# to log into the webcast please use the following link: http://mediaserve.buchanan.uk.com/2009/oxb290409/registration.asp
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For Immediate Release |
29 APRIL 2009 |
OXFORD BIOMEDICA REGAINS RIGHTS TO ITS TROVAX® CANCER VACCINE
Oxford, UK - 29 April 2009: Oxford BioMedica (LSE: OXB) announced today that, as part of sanofi-aventis's reprioritisation of its product portfolio, Oxford BioMedica has regained worldwide rights to TroVax, its therapeutic cancer vaccine. Oxford BioMedica will receive an immediate payment of US$16.5 million (£11 million), which includes an amount in settlement of certain previously committed development costs. In addition, sanofi-aventis will continue to support Oxford BioMedica at the forthcoming meeting with the FDA to assess the results of the Phase III TRIST study in renal cancer and to secure guidance on potential further clinical development. Subject to the outcome of the FDA's review, which is anticipated before the end of the second quarter of 2009, the Company intends to pursue new partnering and development opportunities for TroVax.
Oxford BioMedica's Chief Executive, John Dawson, said: 'We understand and respect that sanofi-aventis's portfolio review has resulted in a change of focus and a decision not to progress the development of TroVax. We remain committed to the successful development and commercialisation of TroVax and we are working constructively with the FDA to define the potential development path for further trials. Subject to the FDA's review, we intend to pursue a number of commercial opportunities and, in addition, work with QUASAR and other clinical groups that may want to sponsor independent clinical trials of TroVax.'
John Dawson continued: 'We value our relationship with sanofi-aventis and look forward to working with them to achieve the goals of our new partnership in ophthalmology.'
-Ends-
Analyst meeting: An analyst briefing will be held at 10:00 am at the offices of Buchanan Communications, 45 Moorfields, London EC2Y 9AE.
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For further information, please contact: |
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Oxford BioMedica plc: John Dawson, Chief Executive Officer |
Tel: +44 (0)1865 783 000 |
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JPMorgan Cazenove Limited: James Mitford/ Gina Gibson |
Tel: +44 (0)20 7588 2828 |
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City/Financial Enquiries: Lisa Baderoon/ Mark Court/ Mary-Jane Johnson Buchanan Communications |
Tel: +44 (0)20 7466 5000 |
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Scientific/Trade Press Enquiries: Sue Charles/ Holly Griffiths/ John McIntyre College Hill Life Sciences |
Tel: +44 (0)20 7457 2020 |
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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. Partners include sanofi-aventis, Sigma-Aldrich and Wyeth. Technology licensees include GlaxoSmithKline, Merck & Co, Open Biosystems and Pfizer. Further information is available at www.oxfordbiomedica.co.uk
2. TroVax®
TroVax is Oxford BioMedica's novel therapeutic cancer vaccine, which is designed specifically to stimulate an anti-cancer immune response and has potential application in most solid tumour types. TroVax targets the tumour antigen 5T4, which is broadly distributed throughout a wide range of solid tumours. The presence of 5T4 is correlated with poor prognosis. The product consists of a Modified Vaccinia Ankara vector, which delivers the gene for 5T4 and stimulates a patient's body to produce an anti-5T4 immune response. This immune response destroys tumour cells carrying the 5T4 antigen.
This information is provided by RNS
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