28th Mar 2007 07:02
Oxford Biomedica PLC28 March 2007 For Immediate Release 28 MARCH 2007 Analyst meeting: An analyst briefing will be held at 11.45 am today at the offices of BuchananCommunications, 45 Moorfields, London EC2Y 9AE. Web cast: Simultaneously to the analyst briefing at 11.45 am, there will be a live audioweb cast of the presentation. To connect to the web cast facility, please go tothe Company's website: http://www.oxfordbiomedica.co.uk/ approximately 10minutes (11.35 am) before the start of the briefing. This will also be availablefor replay shortly after the presentation. OXFORD BIOMEDICA AND SANOFI-AVENTIS ENTER GLOBAL LICENSING AGREEMENT TO DEVELOP AND COMMERCIALISE TROVAX(R) FOR CANCER Oxford, UK - 28 March 2007: Oxford BioMedica (LSE: OXB) and sanofi-aventis(EURONEXT: SAN; NYSE: SNY) announced today that they have entered into anexclusive global licensing agreement to develop and commercialise TroVax(R) forthe treatment and prevention of cancers. TroVax(R) is Oxford BioMedica's lead cancer immunotherapy. It has been evaluatedin clinical trials involving more than 180 patients with various forms ofcancer. A Phase III trial in renal cancer is ongoing. Under the terms of this agreement: • Sanofi-aventis will pay Oxford BioMedica up to €518 million (approximately US$690 million) if all development and registration targets are met for certain defined indications. Additional payments will be made if regulatory milestones are achieved in other cancer types. • Oxford BioMedica will receive an initial payment of €29 million (approximately US$39 million) and further near-term payments of €19 million (approximately US$25 million) as milestones linked to the ongoing Phase III TRIST study in renal cancer. • Oxford BioMedica is also entitled to escalating royalties on global sales of TroVax(R) and to further undisclosed commercial milestones when net sales of TroVax(R) reach certain levels. • Oxford BioMedica has an option to develop TroVax(R) for other cancer types in exchange for enhanced financial returns, and sanofi-aventis will keep all commercial rights. • Oxford BioMedica will supply TroVax(R) to sanofi-aventis on commercial terms. • Oxford BioMedica and sanofi-aventis will co-fund the ongoing Phase III TRIST study of TroVax(R) in renal cancer. • Sanofi-aventis will fund all future research, development, regulatory and commercialisation activities, including the immediate implementation of a development plan for TroVax(R) in metastatic colorectal cancer. • Sanofi-aventis will be responsible for the global commercialisation of TroVax(R) and will book the sales worldwide. Oxford BioMedica retains an option to participate in the promotion of TroVax(R) in the United States and the European Union. TroVax(R) may be developed by sanofi-aventis as a treatment for any cancer type.Based on the broad distribution of the 5T4 tumour antigen, TroVax(R) haspotential application in a wide range of solid tumours, including renal,colorectal, lung, breast and prostate cancer. Professor Alan Kingsman, Chief Executive of Oxford BioMedica, commented: "We aredelighted to have sanofi-aventis as our partner for TroVax(R) given their broadexpertise, experience and resources in oncology and their long standingworld-class research and development capabilities in cancer immunology. We lookforward to working with our new partner to advance the development andcommercialisation of TroVax(R) and, importantly, to provide cancer patients withnew treatment options." -Ends- For further information, please contact: Oxford BioMedica plc: Tel: +44 (0)1865 783 000Professor Alan Kingsman, Chief Executive Buchanan Communications Tel: +44 (0)20 7466 5000City/Financial Enquiries:Lisa Baderoon Mob: +44 (0) 7721 413 496Mary-Jane Johnson Mob: +44 (0) 7780 600 290 Northbank CommunicationsScientific/Trade Press Enquiries: Tel: +44 (0)20 7268 3002Gemma Price/ Holly Griffiths/ Katja Stout Notes to editors 1. Oxford BioMedica Oxford BioMedica (LSE: OXB) is a biopharmaceutical company specialising in thedevelopment of novel gene-based therapeutics with a focus on oncology andneurotherapy. The Company was established in 1995 as a spin out from OxfordUniversity, and is listed on the London Stock Exchange. Oxford BioMedica has core expertise in gene delivery, as well as in-houseclinical, regulatory and manufacturing know-how. In oncology, the pipelineincludes two clinical candidates and a preclinical targeted antibody therapy,which is being developed in collaboration with Wyeth. Oxford BioMedica's leadcancer immunotherapy product, TroVax, has been evaluated in clinical trialsinvolving more than 180 patients with various forms of cancer. A Phase III trialin renal cancer is ongoing. In neurotherapy, the Company's lead product,ProSavin, is expected to enter clinical trials in Parkinson's disease in 2007.The preclinical pipeline includes gene-based products for vision loss, motorneuron disease and nerve repair. The recent acquisition of Oxxon Therapeuticsadds a Phase II cancer vaccine for melanoma as well as a platform for otherapplications in cancer and infectious diseases. The Company is underpinned by over 80 patent families, which represent one ofthe broadest patent estates in the field. The Company has a staff ofapproximately 85 split between its main facilities in Oxford and its whollyowned subsidiary, BioMedica Inc, in San Diego, California. In addition to theTroVax collaboration with sanofi-aventis, Oxford BioMedica has corporatecollaborations with Wyeth, Intervet, Sigma-Aldrich, Viragen, MolMed and Virxsys;and has licensed technology to a number of companies including Merck & Co,Biogen Idec, GlaxoSmithKline and Pfizer. Further information is available at www.oxfordbiomedica.co.uk 2. Sanofi-aventis Sanofi-aventis is one of the world leaders in the pharmaceutical industry,ranking number one in Europe. Backed by a world-class R&D organisation,sanofi-aventis is developing leading positions in seven major therapeutic areas:cardiovascular, thrombosis, oncology, metabolic diseases, central nervoussystem, internal medicine and vaccines. Sanofi-aventis is listed in Paris(EURONEXT: SAN) and in New York (NYSE: SNY). 3. TroVax(R) TroVax is Oxford BioMedica's leading cancer immunotherapy product. It isdesigned specifically to stimulate an anti-cancer immune response and haspotential application in most solid tumour types. TroVax targets the tumourantigen 5T4, which is broadly distributed throughout a wide range of solidtumours. The presence of 5T4 is correlated with poor prognosis. The productconsists of a poxvirus (MVA) gene transfer system, which delivers the gene for5T4 and stimulates a patient's body to produce an anti-5T4 immune response. Thisimmune response destroys tumour cells carrying the 5T4. Over 180 patients have been treated with TroVax in clinical trials in renal,colorectal and prostate cancer. TroVax has been safe and well tolerated in alltrials to date. There have been no serious adverse events related to theproduct. The clinical data show that over 95% of patients treated with TroVaxmount an anti-tumour immune response to the 5T4 tumour antigen, and, in a numberof clinical studies, there is a strong correlation between the level of theimmune response elicited by TroVax and the clinical benefit to patients. In2006, Oxford BioMedica started a Phase III trial of TroVax in renal cancer. Theproduct has attracted support from Cancer Research UK, the US National CancerInstitute, and the UK clinical trials network, QUASAR. These organisations areconducting or plan to conduct clinical trials with TroVax. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Oxford Biomedica