MediGene signs license deal with Glaxo for patents to develop therapeutic tumor vaccine

By E. Janene Geiss

Philadelphia, Dec. 19 - MediGene AG said Monday that it has issued a non-exclusive license to Glaxo Group Ltd. under existing patents that had emerged from MediGene's program to develop a therapeutic tumor vaccine.

In return, MediGene receives a one-time payment from Glaxo, according to a company news release.

The payment from Glaxo, combined with Eligard sales, will ensure that Medigene will reach previous established guidance for 2005 of revenues of €20 million, officials said.

Because of the Glaxo deal, MediGene said it can now postpone the finalization of a Polyphenon E marketing partnership so that it can review new proposals received after the recent Food and Drug Administration acceptance of the New Drug Application for Polyphenon E-Ointment for the treatment of genital warts.

"The agreement with Glaxo Group Ltd. underscores the quality and value of MediGene's technology. It also allows the company the resources to thoroughly evaluate additional new business development options, Peter Heinrich, chief executive officer of MediGene, said in the release.

"New opportunities for a marketing partnership for our Polyphenon E-Ointment have recently arisen. Achieving our revenue forecast for the year gives us the flexibility to postpone the closing of a deal until we have evaluated these new attractive options in order to exploit the full potential of our product," Heinrich added.

MediGene is a German-American biotechnology company located in Martinsried/Munich, Germany, and San Diego.

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