BioVeris completes agreement with TheraCarb for fungal infection vaccine

By Lisa Kerner

Erie, Pa., Jan. 18 - BioVeris Corp. said it has entered into an option agreement with TheraCarb, Inc. for exclusive patent rights to a vaccine candidate for candida albicans, a common fungal pathogen.

Under terms of the agreement, BioVeris acquired a first option for exclusive rights to commercialize products for possible use in the prevention, diagnosis and treatment of candida albicans infections, according to a company news release.

BioVeris will also sponsor approximately $170,000 of research at TheraCarb through the first quarter of 2007. The research will be aimed at developing a vaccine candidate.

TheraCarb will receive a $75,000 option fee and additional license, milestone, and royalty fees based on exercised options and commercialization of products.

Candida albicans is the most common of the candida species that colonize in more than half of all healthy individuals in the United States, causing systemic disease in nearly 15% of those who are immunocompromised, said the release. Resulting diseases include vaginal yeast infections, systemic candidiasis, thrush, esophagitis and cutaneous candidiasis.

TheraCarb, based in Edmonton, Alta., is a private biotechnology company developing products based on carbohydrate chemistry.

BioVeris develops proprietary technologies in diagnostics and vaccinology. The company has headquarters in Gaithersburg, Md.

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