TechnoVax Inc. Licenses Wyeth (WYE)'s Virus-Like Particle Vaccine Technology
12/11/2006 12:39:16 PM
TARRYTOWN, N.Y.--(BUSINESS WIRE)--TechnoVax Inc., a privately held developer of novel vaccine technologies announced that it has signed a license agreement with Wyeth (NYSE: WYE), to obtain rights to a fundamental patent application in the field of virus-like particle (VLP) technology. The agreement provides for an upfront payment, annual minimum royalty payments, milestone payments to Wyeth upon the achievement of certain development events, royalties on product sales, and an equity grant to Wyeth when TechnoVax completes an initial equity financing.
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