Immunovaccine and PharmAthene Sign License Agreement to Develop and Commercialize an Anthrax Vaccine

Immunovaccine (TSX:IMV) and PharmAthene (NYSE MKY:PIP) have announced a worldwide license agreement to develop and commercialize aRecombinant Protective Antigen Anthrax vaccine (rPA) candidate). This vaccine would make use of Immunovaccine’s proprietary DepoVax™ platform.
According to the press release:

PharmAthene will work exclusively with Immunovaccine to develop an adjuvanted non-alum based rPA vaccine. In return, Immunovaccine has granted PharmAthene exclusive worldwide rights to use DepoVax™ for the development and commercialization of the novel single dose anthrax vaccine. Immunovaccine will receive annual payments of U.S.$200,000, payments of up to U.S.$8 million for the achievement of development, U.S. and international regulatory milestones, and initial product sales, and up to U.S.$42 million for the achievement of certain sales targets for a total of up to U.S.$50 million if all milestones are achieved. Additionally, Immunovaccine will receive a royalty on net sales and will not be responsible for product development costs.

According to Marc Mansour, Immunovacine’s Chief Executive Officer:

This type of strategic partnership will allow us to capitalize on the broad potential of the DepoVax™ platform in infectious disease while advancing core opportunities for DepoVax™ in immuno-oncology. . .  . This collaboration with PharmAthene has the potential for efficient and rapid development of a best-in-class anthrax vaccine. PharmAthene’s rPA has been studied in over 700 patients with established manufacturing processes and proven development assays and technologies.

Click here to read the full press release.