ZURICH-SCHLIEREN, Switzerland, Jan. 4, 2013 /PRNewswire/ -- GlycoVaxyn AG, a leader in the development of innovative vaccines, today announced that Janssen Pharmaceuticals, Inc. (JPI), has signed an exclusive license agreement and entered into a three-year research and development collaboration to develop a multi-valent bacterial vaccine employing GlycoVaxyn's bio-conjugation technology.
"Bacterial pathogens that exist in multiple pathogenic strains pose significant challenges for developing vaccines that target these strains," said Michael Wacker, co-founder and chief scientific officer of GlycoVaxyn. "Our recombinant DNA-based vaccine technology is particularly well-suited for polyvalent conjugate vaccines and should make the development and commercialization of these vaccines more feasible and reliable."
GlycoVaxyn will collaborate with JPI's affiliate, Crucell Holland BV, on the development of the multi-valent vaccine until proof-of-concept, after which JPI will be responsible for later-stage clinical studies and world-wide commercialization. The consideration to GlycoVaxyn includes an upfront payment, milestone payments, royalties as well as reimbursement of research and development expenses. Financial details of the agreement have not been disclosed.
Philippe Dro, chief executive officer of GlycoVaxyn added, "This collaboration is a further confirmation of the position GlycoVaxyn is about to occupy in the vaccine development space. The whole team is dedicated to establish GlycoVaxyn's technology as a powerful platform able to generate innovative vaccine candidates. We are very pleased to work together with JPI and Crucell and to be able to contribute to their vaccine development ambitions."
About GlycoVaxyn AG
GlycoVaxyn is a privately-funded company developing a portfolio of novel bio-conjugate vaccines against common severe bacterial infections produced with its unique, proprietary in vivo glycosylation platform. With this platform, the company can develop and produce immunogenic glycoprotein conjugates in a biological process that circumvents many of the challenges and uncertainties involved in currently/chemical used methods. In addition to the clinical stage Shigella vaccine, lead programs in preclinical stage are aimed at the prevention of hospital acquired Staphylococcus aureus infections, as well as pneumococcal invasive diseases and uropathogenic E. coli. GlycoVaxyn is funded by a top-tier group of private investors including Sofinnova Partners, Index Ventures and Edmond de Rothschild Investment Partners. For further information, visit www.glycovaxyn.com.
SOURCE GlycoVaxyn AG