21 February 2000 12:38 [Source: ICIS news]
LONDON (CNI)--UK biotechnology company Oxford BioMedica announced Monday it has signed an agreement with French veterinary drugs firm Virbac to use its cancer vaccine technology in animal health research.
Financial details of the R&D pact were not disclosed, but in a statement Oxford BioMedica said it will receive upfront and milestone payments and products royalties. In addition, Virbac plans staged equity investment in the UK firm.
Oxford BioMedica will supply its tumour-associated antigens for the research work into cancer vaccines for pets. Virbac is to fund the pre-clinical data preparation, clinical trials, regulatory dossier preparation as well as giving financial support to Oxford BioMedica on the vaccine R&D work.
The UK firms said there is no equivalent cancer vaccine available to treat pets, such as dogs and cats. It added that such a vaccine could establish a new market in veterinary pharmaceuticals worth more than $200m (Euro203m) in the US and Europe.
Alan Kingsman, chief executive of Oxford BioMedica, said: "This deal represents the first of several that we are negotiating with pharmaceutical companies worldwide on our novel tumour-combating antigens. In particular, strong interest is being shown in the human version of this vaccine."
He added that the licensing deal with Virbac allows Oxford BioMedica to share in revenue streams outside of its core human therapeutic markets."
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections