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BioVeris exercises option to license chlamydia vaccine
New York, Dec. 6 - BioVeris Corp. said it exercised its option to enter into an exclusive, worldwide license agreement with the University of Massachusetts Amherst for patent rights to a proprietary vaccine candidate for chlamydia, which the company described as the most frequently reported infectious disease in the United States.
Under the agreement, BioVeris has licensed exclusive rights to commercialize products for possible use in the prevention, diagnosis and treatment of all chlamydial infections, including the disease, chlamydia, caused by the bacterium, chlamydia trachomatis.
The company will pay a $75,000 license issue fee, milestones fees, including for initiating and completing human clinical trials and securing regulatory approvals, patent costs, and royalties on product sales, including a minimum annual royalty of $40,000 commencing in 2007.
In May, BioVeris and University of Massachusetts Amherst entered into a separate sponsored research agreement with the carbohydrate-based vaccine group, comprised of Lloyd Semprevivo, Elizabeth Stuart and Wilmore Webley, under which the company will sponsor up to $600,000 of research at University of Massachusetts Amherst through 2006 aimed at developing a vaccine.
The vaccine under investigation utilizes a pan-genus antigen that may be effective in preventing infections caused by most or all species of chlamydia.
There are nearly three million cases in the United States a year of chlamydia, a sexually transmitted disease. It shows no symptoms in three quarters of infected women and half of infected men.
BioVeris is a Gaithersburg, Md., healthcare company.
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