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Pharmexa A/S (PHARMX.CO) and Affitech AS Enter into an Exclusive License Agreement to Promote Diabody Technology


4/3/2007 10:55:29 AM

COPENHAGEN, Denmark & OSLO, Norway--(BUSINESS WIRE)--Pharmexa A/S, a leading Danish immunotherapeutic and vaccine company, and Affitech AS, a Norwegian company specializing in human therapeutic monoclonal antibody discovery and development, have entered into a license agreement to promote a single chain bi-specific antibody (diabody) technology to third parties for further product development, as well as to utilize the technology for Affitech's own research.

Pharmexa has granted a worldwide exclusive license to Affitech AS for certain intellectual property rights (IPR) to recombinant antibody-like proteins known as bi-specific single chain antibodies, or diabodies. Diabodies have unique attributes making them attractive candidates for a variety of therapeutic applications. Under the terms of the agreement, Affitech may conduct IND-enabling research activities and will sub-license the IPR to Third Parties to conduct relevant activities leading to the manufacturing and commercialization of licensed products. Pharmexa and Affitech will share all proceeds from such third party agreements.

Pharmexa's CEO Jakob Schmidt says: "Affitech has extensive expertise in the antibody field and the capability to add significant value to the diabody technology, making it very attractive to potential partners for product development."

Affitech CEO Martin Welschof sees the agreement as further strengthening of Affitech's innovative antibody technology and IPR portfolio. "Because of the built-in dual specificity, Diabodies are extremely interesting in the field of cancer research. Therefore, we see them as having great potential in our chosen field of oncology therapeutics. Furthermore, we have built up comprehensive knowledge about the other relevant players in the antibody field of research and development likely to be interested in taking out a license for the development, manufacturing and commercialization of Diabodies", Dr. Welschof commented.

Contact:

Pharmexa Jakob Schmidt Chief Executive Officer +45 4516 2525 or

Claude Mikkelsen Head of Investor Relations +45 4516 2525 or +45 4060 2558 or

Affitech (Norway) Dr. Martin Welschof Chief Executive Officer +47 22 95 87 58 m.welschof@affitech.com or

Affitech (USA) Dr. Rathin C. Das President + 1 925 935 9803 r.das@affitech.com or

Media enquiries Hayhurst Media Richard Hayhurst +44 7711 821 527 Richard@hayhurstmedia.com

Source: Affitech

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