BioVeris Completes Agreement With The Rockefeller University
07 Settembre 2005 - 12:00AM
PR Newswire (US)
Secures Exclusive Rights to Unique Streptococcal A Vaccine
Candidate GAITHERSBURG, Md., Sept. 6 /PRNewswire-FirstCall/ --
BioVeris Corporation (NASDAQ:BIOV) announced today that it has
entered into a License Agreement with The Rockefeller University, a
world-renowned center for research and graduate education in the
biomedical sciences. Under the Agreement, BioVeris receives an
exclusive, worldwide license of patents and know-how to
manufacture, use and commercialize a unique vaccine candidate for
Group A Streptococcal (GAS) disease, including pharmaceutical,
therapeutic, diagnostic and vaccine applications thereof. The
Company paid an initial $150,000 license issue fee and may be
required to make additional future payments for license maintenance
and patent costs, and to pay certain milestone fees for initiating
and completing human clinical trials and receiving regulatory
approvals. The Company is also required to pay royalties on the
sales of products covered by the Agreement. GAS, also known as
Streptococcus pyogenes, causes a range of diseases from mild to
severe, in both children and adults. Most infections are mild or
noninvasive, accounting for more than 10 million cases annually in
the U.S., and primarily include strep throat (pharyngitis) and
impetigo (skin infection). Industry analysts have estimated that
the potential market for an effective GAS vaccine could exceed $1
billion annually. Invasive disease from GAS occurs when the
organism spreads to deeper areas of the body (e.g., blood, muscles,
lungs, bones, spinal cord, and abdomen) and results in severe
illness, which may include necrotizing fasciitis (flesh- eating
bacteria) and Streptococcal Toxic Shock Syndrome (STSS). The
Centers for Disease Control and Prevention estimates that
approximately 11,000 cases of invasive disease occurred in the U.S.
in 2003, which resulted in 1,700 deaths. While the overall
mortality rate for invasive disease is between 10% and 13%, it
increases to 25% for flesh-eating bacteria and to 45% for STSS, in
spite of available antibiotics. There is currently no vaccine for
this disease. The technology from Rockefeller University is based
on the use of bacterial polysaccharide in a new vaccine to elicit
protective antibodies, which should complement the already existing
carbohydrate conjugate vaccine platform at BioVeris. About The
Rockefeller University The Rockefeller University, a world-renowned
center for research and graduate education in the biomedical
sciences, was founded in 1901 by John D. Rockefeller as The
Rockefeller Institute for Medical Research. Based in New York City,
it was the first institution in the United States devoted solely to
biomedical research -- to understanding the underlying causes of
disease. Renamed The Rockefeller University in 1965, today it is
one of the foremost scientific research and educational centers in
the world, associated with 23 Nobel Prize winners, as well as
recipients of numerous other prestigious awards. About BioVeris
Corporation BioVeris Corporation -- America's Biosecurity Company
-- is an integrated healthcare company developing proprietary
technologies in diagnostics and vaccinology. The Company is
dedicated to the commercialization of innovative products and
services for biosecurity and for healthcare providers, their
patients and their communities. BioVeris is headquartered in
Gaithersburg, Maryland. More information about the Company can be
found at http://www.bioveris.com/. This press release contains
forward-looking statements within the meaning of the federal
securities laws that relate to future events or BioVeris' future
performance. All statements in this press release that are not
historical facts, including any statements about the agreement with
The Rockefeller University or its potential impact on the Company
or its business, financial commitments, market size or growth, and
the utility or effectiveness of vaccine candidates are hereby
identified as "forward-looking statements." The words "may,"
"should," "will," "expect," "could," "anticipate," "believe,"
"estimate," "plan," "intend" and similar expressions have been used
to identify certain of the forward-looking statements. In this
press release, BioVeris has based these forward-looking statements
on management's current expectations, estimates and projections and
they are subject to a number of risks, uncertainties and
assumptions that could cause actual results to differ materially
from those described in the forward-looking statements. Such
forward-looking statements should, therefore, be considered in
light of various important factors, including changes in general
economic, business and industry conditions. The foregoing sets
forth some, but not all, of the factors that could impact upon
BioVeris' ability to achieve results described in any
forward-looking statements. A more complete description of the
risks applicable to BioVeris is provided in the Company's filings
with the Securities and Exchange Commission (SEC) available at the
SEC's web site at http://www.sec.gov/. Investors are cautioned not
to place undue reliance on these forward-looking statements.
Investors also should understand that it is not possible to predict
or identify all risk factors and that neither this list nor the
factors identified in BioVeris' SEC filings should be considered a
complete statement of all potential risks and uncertainties.
BioVeris has no obligation to publicly update or release any
revisions to these forward- looking statements to reflect events or
circumstances after the date of this press release. DATASOURCE:
BioVeris Corporation CONTACT: George Migausky of BioVeris
Corporation, +1-301-869-9800, ext. 2013; or Jonathan Fassberg
(investors), of The Trout Group, +1-212-477-9007, ext. 16, for
BioVeris Corporation; or Paul Caminiti or Andrew Cole (media) of
Citigate Sard Verbinnen, +1-212-687-8080, for BioVeris Corporation
Web site: http:/www.bioveris.com
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