HALIFAX, NOVA SCOTIA--(Marketwire - November 23, 2009) - Immunovaccine Inc. (TSX VENTURE: IMV), a vaccine development company, today announced the signing of an exclusive, worldwide license agreement with Pfizer Animal Health for Immunovaccine's patented vaccine delivery technology. Pfizer Animal Health said it plans to develop enhanced cattle vaccines incorporating Immunovaccine's technology. Under the terms of the agreement, which were not disclosed, Immunovaccine will receive upfront signing fees in addition to subsequent milestone payments and royalties on any Immunovaccine-delivered vaccines developed by Pfizer Animal Health.
"Pfizer Animal Health is known around the world for its treatment and prevention of disease in cattle, and we are pleased to secure a further licensing agreement designed to advance their development of promising vaccines for veterinarians and producers," said Dr. Randal Chase, president and CEO of Immunovaccine. "This is further validation of the commercial potential of our technology."
"We see global demand growing among beef and dairy producers for new vaccines that can be safely and easily administered," said Juan Ramon Alaix, president, Pfizer Animal Health. "Pfizer looks forward to developing cattle vaccines incorporating Immunovaccine technology that will contribute to meeting this demand," Alaix said. Pfizer Animal Health is currently also licensing other Immunovaccine technology for the development of particular livestock vaccines.
Compared to conventional vaccines, the strength of Immunovaccine's platform lies in its ability to reduce the number of required doses and to significantly enhance antibody onset and duration. The power and versatility of Immunovaccine's technology to combine with a variety of antigens and to induce both humoral and cellular immune responses make it the vaccine delivery system of choice for Immunovaccine's current and potential biotechnology partners.
Pfizer Animal Health, a business of Pfizer Inc., is a world leader in discovering and developing innovative animal prescription medicines and vaccines, investing an estimated $300 million annually. For more information on how Pfizer works to ensure a safe, sustainable global food supply with healthy livestock and poultry, and how Pfizer helps companion animals and horses to live longer, healthier lives, visit www.PfizerAnimalHealth.com.
Immunovaccine Inc. (TSX VENTURE: IMV) is a vaccine development company focused on commercialization of its novel vaccine candidates. Immunovaccine continues to strengthen its vaccine pipeline through licensing and strategic partnering to develop therapeutic cancer and infection disease vaccines. www.imvaccine.com.
PFIZER DISCLOSURE NOTICE: The information contained in this release is as of November 23, 2009. Pfizer assumes no obligation to update any forward-looking statements contained in this release as a result of new information or future events or developments.
This release contains forward-looking information about Pfizer Animal Health's plans to develop enhanced cattle vaccines incorporating the vaccine delivery technology licensed from Immunovaccine Inc. and about the potential benefits of those vaccines. Such information involves substantial risks and uncertainties including, among other things, the uncertainties inherent in research and development activities; decisions by regulatory authorities regarding whether and when to approve any such vaccines as well as their decisions regarding labeling and other matters that could affect their availability or commercial potential; and competitive developments.
A further list and description of risks and uncertainties can be found in Pfizer's Annual Report on Form 10-K for the fiscal year ended December 31, 2008 and in its reports on Form 10-Q and Form 8-K.
IMMUNOVACCINE INC. DISCLOSURE NOTICE: This press release contains forward-looking information under applicable securities law. All information that addresses activities or developments that we expect to occur in the future is forward-looking information. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made. However, they should not be regarded as a representation that any of the plans will be achieved. Actual results may differ materially from those set forth in this press release due to risks affecting the Company, including access to capital, the successful completion of clinical trials and receipt of all regulatory approvals. Immunovaccine Inc. assumes no responsibility to update forward-looking statements in this press release.
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