Company obtains rights to the patent application covering the preparation of the vaccine.
TechnoVax gained the rights to Wyeth’s patent application in the field of virus-like particle (VLP) technology. This application is based on research conducted by TechnoVax founder, Jose M. Galarza, Ph.D., while serving as principal scientist at Wyeth.
Technovax explains that the VLP vaccine technology allows for the creation of structures that are morphologically identical to a virus. However, they are unable to replicate or infect cells because they lack the genetic material that is needed. VLP-based vaccines, hence, do not require chemical inactivation or attenuation.
The patent application covers the preparation of vaccines against a number of potential pandemic organisms. The technology allows for the production of vaccines against influenza in a cell-based rather than an egg-based system. It can also be used for the production of vaccines directed against other infectious agents and cancer targets.
The agreement provides for an upfront payment, annual minimum royalty payments, milestone payments related to certain development events, royalties on product sales, and an equity grant when TechnoVax completes an initial equity financing.
