NEEDHAM, Mass.--(BUSINESS WIRE)--Dec. 1, 2005--AVANT Immunotherapeutics, Inc. (NASDAQ: AVAN) today announced that it has received the second unconditional payment of $5,000,000 from an affiliate of Paul Royalty Fund II, L.P. (PRF) pursuant to a May 2005 agreement for the purchase by PRF of an interest in the net royalties AVANT will receive on worldwide sales of Rotarix(R) for up to $61 million. Remaining milestone payments from PRF to AVANT include $40 million upon product launch of Rotarix(R) in the European Union, currently expected for the first half of 2006; and between $11 and $9 million upon product launch in the United States, depending on date of launch. AVANT retains substantial upside in future Rotarix(R) royalty revenues depending on commercial success. Rotarix(R) is licensed by AVANT to GlaxoSmithKline (GSK).
