GAITHERSBURG, Md., Feb. 2 /PRNewswire-FirstCall/ -- MedImmune, Inc. announced today that under an amended agreement with GlaxoSmithKline , MedImmune may receive certain milestone payments and royalties on future development and sales of an investigational human papillomavirus (HPV) vaccine now in Phase 3 development by Merck & Co., Inc . MedImmune may also receive certain milestone payments and royalties on future development and sales of the investigational HPV vaccine co-developed by MedImmune and GSK, currently in Phase 3 development. HPV is the leading cause of cervical cancer.
In December 1997, MedImmune entered into an exclusive license agreement with GSK for certain patents and know-how that have formed the basis for the development of an HPV vaccine by MedImmune and GSK. GSK has granted a sublicense to MedImmune’s HPV patent rights to Merck as it relates to Merck’s separate and independent HPV vaccine program.
About MedImmune
MedImmune strives to provide better medicines to patients, new medical options for physicians, rewarding careers to employees, and increased value to shareholders. Dedicated to advancing science and medicine to help people live better lives, the company is focused on the areas of infectious diseases, cancer and inflammatory diseases. With approximately 1,900 employees worldwide, MedImmune is headquartered in Maryland. For more information, visit the company’s website at http://www.medimmune.com/.
This announcement contains, in addition to historical information, certain forward-looking statements that involve risks and uncertainties. Such statements reflect management’s current views and are based on certain assumptions. In particular, in addition to risks related to product development and foreign currency fluctuation discussed in MedImmune’s filings with the U.S. Securities and Exchange Commission and any risks identified by GSK and Merck, any potential benefit to MedImmune from the licensing of its HPV patent rights to GSK and the sublicensing of those rights to Merck are based on the respective development and commercialization programs of GSK and Merck, over which MedImmune has no direct control. There can be no assurance that such development efforts will succeed, that such products will receive required regulatory clearance or that, even if such regulatory clearance is received, there will be any significant market for such products or such products will ultimately achieve commercial success.
MedImmune, Inc.
CONTACT: Media: Jamie Lacey, +1-301-398-4035, or Investors: Peter Vozzo,+1-301-398-4358, or John Filler, +1-301-398-4086, all of MedImmune, Inc.
Web site: http://www.medimmune.com/