Medigene AG / Medigene announces outlicensing of AAVLP technology . Processed and transmitted by Nasdaq Corporate Solutions. The issuer is solely responsible for the content of this announcement.
2A Pharma AB to continue development of AAVLP based vaccines
Martinsried/Munich, 20 December 2016. Medigene AG (http://www.medigene.de) (FSE: MDG1, Prime Standard, TecDAX) announced today that it has granted an exclusive, worldwide license for the development and commercialization of its preclinical stage adeno-associated virus like particles (AAVLPs) technology to the Swedish biotech company 2A Pharma AB, located in Malmö, Sweden. Under the terms of the agreement, Medigene is eligible to receive clinical, regulatory and commercial milestone payments in addition to royalties on net sales of future AAVLP products by 2A Pharma AB. Further financial details were not disclosed.
The AAVLP technology is unrelated to Medigene's current immunotherapy programs and was a former research project at Medigene before its repositioning as a T cell immunotherapy company.
Dave Lemus, COO of Medigene AG, comments: "We are pleased to have created a new future for our AAVLP platform at a promising young biotech company which is wholly focused and dedicated to successfully developing this vaccine technology. While Medigene will potentially benefit from its future progress, we will continue to concentrate on our core business, especially the development of T-cell receptor (TCR) modified T cells and next generation dendritic cell (DC) vaccines."
Prof. Soeren Nielsen, CEO of 2A Pharma AB, adds: "We founded 2A Pharma AB in order to further develop this very interesting AAVLP technology. We are convinced of the future potential of the same as an innovative therapy and we are pleased that we have attracted investors who will provide us sufficient funding to reach the clinical development stage."
About AAVLP: AAVLPs offer the potential to develop vaccines against various indications, including cancer and infectious diseases. The adeno-associated virus is non-pathogenic, and the virus protein shell, the capsid, is well-suited for the production of virus-like particles (VLPs), as a basis for novel vaccines.
AAVLPs have previously been developed as B-cell vaccines. Peptides inserted in the capsid can induce a humoral immune response (B-cell induction and antibody production). First preclinical tests with AAVLPs were conducted by academic partners of Medigene AG.
About 2A Pharma AB: 2A Pharma AB was newly founded as a limited liability company in December 2016 in Malmö, Sweden, with Prof. Soeren Nielsen as CEO, Preben Bruun Nyzell as CFO and Dr. John Nieland as COO, as a start-up biotech company with the aim to develop novel vaccine products. Strong private investors participated in the company's first financing round.
Medigene AG (FSE: MDG1, ISIN DE000A1X3W00, Prime Standard, TecDAX) is a publicly listed biotechnology company headquartered in Martinsried near Munich, Germany. The company is developing highly innovative, complementary treatment platforms to target various types and stages of cancer with candidates in clinical and pre-clinical development. Medigene concentrates on the development of personalized T cell-based immunotherapies.
For more information, please visit www.medigene.com (http://www.medigene.com)
This press release contains forward-looking statements representing the opinion of Medigene as of the date of this release. The actual results achieved by Medigene may differ significantly from the forward-looking statements made herein. Medigene is not bound to update any of these forward-looking statements. Medigene® is a registered trademark of Medigene AG. This trademark may be owned or licensed in select locations only.
Contact Medigene AG
Julia Hofmann, Dr. Robert Mayer
Tel.: +49 - 89 - 20 00 33 - 33 01,
email: investor@medigene.com (mailto:investor@medigene.com)
Kontakt 2A Pharma AB
Soeren Nielsen
CEO, Prof.Dr.
2A Pharma AB
Malmoe, Sweden
Tel: +45 2539 4137
Email: sn@2apharma.com (mailto:sn@2apharma.com)
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The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Medigene AG via Globenewswire
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Medigene AG
Lochhamer Strasse 11 Martinsried / München Germany
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