Melbourne, Dec 15, 2005 AEST (ABN Newswire) - Australian Biota Holdings Limited (ASX: BTA) and US MedImmune, Inc. (Nasdaq: MEDI) announced today that they have entered into a licensing and collaboration agreement to develop and commercialise Biota's small molecule compounds designed to prevent and treat respiratory syncytial virus (RSV) infection.
MedImmune is the world leader in developing medicines for prevention, having successfully brought to market two preventative therapies. MedImmune currently markets Synagis(T) (palivizumab), the standard of care for helping to prevent serious RSV disease in high-risk infants. Licensed by the US Food and Drug Administration in 1998, it was the first monoclonal antibody (MAb) approved for an infectious disease. "As a company strongly committed to successfully developing and marketing anti-RSV therapeutic products, we are excited to expand our RSV research programs through this collaboration with Biota," said JoAnn Suzich, PhD, MedImmune's Senior Director, Infectious Disease Research. "Whereas Synagis is an injectable monoclonal antibody approved for RSV prevention in high-risk paediatric patients, the Biota compounds are orally available drug candidates. If successfully developed, these products could expand the RSV market to other susceptible patient groups such as older children, the elderly and individuals with compromised immune systems." Under the terms of the agreement, Biota will receive an upfront payment of US$5 million and reimbursement of future research and development expenses on the collaborative RSV program.
In addition, Biota could receive payments up to US$107.5 million based on achieving certain clinical and regulatory milestones; and a royalty on sales of a future licensed product brought to market by MedImmune under the agreement. Biota will have exclusive marketing rights in Australia, New Zealand, China and Southeast Asia (including India and Pakistan) for potential products developed as a result of the agreement. MedImmune will have exclusive marketing rights to these products for the United States, Europe, Japan and all other countries.
"MedImmune is the ideal partner for our RSV program," said Peter Cook, Biota's Chief Executive Officer. "This is a world class deal that provides affirmation of the commercial value of Biota's respiratory antivirals portfolio."
Contact
Biota Holdings Limited
Investors:
Peter Cook
TEL: +61 3 9915 3720
Damian Lismore
TEL: +61 3 9915 3721
Media:
Tim Duncan
TEL: +61 3 9600 1979
http://www.biota.com.au
MedImmune, Inc.
Investors:
Peter Vozzo
TEL: +1 301-398-4358
John Filler
TEL: +1 301-398-4086
Media:
Jamie Lacey
TEL: +1 301-398-4035
http://www.medimmune.com
| ||
|
