Medivir outlicenses two antiviral projects to Tibotec, extends collaboration in hepatitis C

By E. Janene Geiss

Philadelphia, June 30 - Medivir AB announced Friday the signing of two new pharmaceutical license agreements and an extension of the ongoing research collaboration in hepatitis C with Tibotec Pharmaceuticals Ltd.

In the first agreement, Medivir said it has outlicensed its preclinical HIV protease inhibitor project and in the second agreement provided a license for the MIV-210 polymerase inhibitor compound for HIV and hepatitis B, according to a company news release.

Medivir said its antiviral project with Tibotec in the hepatitis C area continues to advance.

Progress has been made in the joint preclinical research, and Tibotec said it has agreed to extend the collaboration agreement and to fund research until at least July 2007.

The designated drug candidate is rapidly progressing to phase 1 and research is directed to identification of suitable follow-on compounds, officials said.

"The [hepatitis C] drug candidate selected in collaboration with Medivir looks encouraging with regard to pharmacokinetics, potency, and resistance patterns," Roger Pomerantz, president of Tibotec, said in the release.

The HIV protease inhibitor project is targeted at inhibition of the HIV protease enzyme and is in the preclinical research phase.

Medivir and Tibotec said they will continue to develop compounds within the project toward a future designation of candidate drugs. Tibotec funds Medivir's research.

The HIV protease inhibitor project is valued at €64 million, of which €2 million is a license fee due on signing of the agreement.

Medivir said it is entitled to royalties from worldwide sales of future products, except for the Nordic market where Medivir has retained marketing rights.

In conjunction with the divestment of Medivir's polymerase inhibitor franchise administered by Medivir HIV Franchise AB, a license agreement has been signed with Tibotec for the antiviral MIV-210 in relation to hepatitis B and HIV projects.

The total deal value amounts to $30 million, of which $5 million is a license fee upon signing the agreement. Medivir said it is entitled to royalties from worldwide sales of a future product, except for the Nordic market where Medivir has retained marketing rights.

Tibotec Pharmaceuticals is a Cork, Ireland, subsidiary of the Mechelen, Belgium, biotechnology company.

Medivir is a Huddinge, Sweden, pharmaceutical company.

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