Ness Zionna, Israel, June 16th, 2009- Protea Vaccine Technologies Ltd. (Protea), an entity affiliated with NasVax Ltd. (TASE: NSVX), announced today the execution of a collaboration and option agreement that grants GlaxoSmithKline Biologicals S.A. (GSK) the option to obtain an exclusive license to a set of Protea’s conserved pneumococcal proteins for the development and commercialization of a universal protein-based Streptococcus pneumoniae vaccine.
Under the collaboration and option agreement, Protea and GSK will collaborate in executing an R&D plan funded by GSK on Protea’s pneumococcal proteins, all of which are in pre-clinical development. In addition, GSK is acquiring an option to obtain an exclusive worldwide license to develop and commercialize vaccines based on Protea’s proteins.
Under the terms of the agreement, Protea will receive R&D funding and an option fee in an aggregate amount of approximately 2.4 million Euro. Upon exercising the option, GSK would pay Protea an upfront license fee and subsequent milestone payments totaling approximately 17 million Euro. Protea also would be entitled to royalties on products commercialized by GSK.
S. pneumoniae, which has more than 90 serotypes, is one of the world’s most common pathogenic bacteria and is responsible for more than 1 million deaths per year worldwide, mostly of very young children. Pneumococcal infections may result in meningitis, pneumonia, sepsis and otitis media in young children and pneumonia in the elderly.
The pneumococcal vaccine is one of the two largest segments in the vaccine market. This $2.7 billion market (2008) is currently served by polysaccharide conjugate vaccines. A vaccine consisting of conserved proteins is expected to possibly become the next generation pneumococcal vaccine.
Commenting on the agreement, Erez Chimovits, CEO of NasVax, stated: “We are pleased that we could secure GSK, one of the world’s leading vaccine companies, as partner for the development of Protea’s protein-based universal vaccine as the next-generation pneumococcal vaccine. This agreement brings together Protea’s innovation with GSK’s vaccine development and commercialization capabilities and experience.”
Dr. Michael Tal, CEO of Protea, added “we are excited about this collaboration, which will put our vaccine candidates on the best path towards entering clinical development and potential marketing. No protein-based pneumococcal vaccines are commercially available, and we hope to provide this solution as the fruit of our collaboration.”
About Protea
Protea Vaccine Technologies Ltd has developed a proprietary identification and prioritization platform for the discovery of conserved protein antigens. Using this platform, Protea has defined a group of conserved protein antigens that provide protective immunity against lethal challenge by S. pneumoniae in mouse challenge models. The company is based on the work of Professor Yaffa Mizrachi Nebenzahl of the Pediatrics Infectious Diseases Unit at Soroka University Medical Center and the Department of Microbiology and Immunology, both at the Ben-Gurion University of the Negev in Beer-Sheva, and Professor Ron Dagan, MD, Head of the Pediatrics Infectious Diseases Unit at Soroka University Medical Center, at the Ben-Gurion University of the Negev in Beer-Sheva. Protea is based in Israel, having been established as portfolio company at Meytav Technological Incubator, Tel-Hay Israel.
About NasVax
NasVax (TASE: NSVX) develops improved vaccines and immunotherapeutic products. VaxiSomeTM, one of its technologies, is an adjuvant system for enhancing the immunogenicity of vaccines and immunotherapeutics. Its most advanced project is an improved intramuscular VaxiSome-adjuvanted Influenza vaccine that is in Phase 1/2a clinical trials. Other vaccines under preclinical development include VaxiSome-adjuvanted avian influenza and hepatitis B vaccines. BBS1, its second technology, provides immunotherapeutics for Alzheimer’s disease, both a monoclonal antibody for treatment as well as an active vaccine.
