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M&A Activity • Apr 9, 2002

News Details

Corporate | 9 April 2002 06:29

Rhein Biotech N.V. english

Rhein Biotech and Corixa Enter into License and Supply Agreement Corporate-news announcement sent by DGAP. The sender is solely responsible for the contents of this announcement. ——————————————————————————– Maastricht, The Netherlands/Seattle, Washington, April 9th, 2002 – Rhein Biotech N.V., the worlds third largest manufacturer of hepatitis B vaccine, and Corixa, a U.S. based developer of immunotherapeutics, today announced the signing of a license and supply agreement for the use of Corixas synthetic adjuvant, RC-529, by Rhein Biotech. The adjuvant is currently used in Rhein Biotechs two-dose hepatitis B vaccine, which has been tested in a phase 3 clinical trial performed by Rhein Biotech and Corixa. Preliminary results indicated patients achieved over 95 percent seroprotection after two injections within a time period of one month. Under the license agreement, Corixas RC-529 adjuvant may also be used in Rhein Biotechs therapeutic hepatitis B vaccine development program. Details of the Agreement Rhein Biotech has acquired from Corixa the co-exclusive worldwide commercial rights to Corixas RC-529 synthetic adjuvant for use in Rhein Biotechs two-dose hepatitis B vaccine and therapeutic hepatitis B vaccine development program. Under the terms of the agreement, Corixa will receive upfront license fees, milestone payments, and royalties on future product sales. Corixa will produce and supply the RC-529 synthetic adjuvant and Rhein Biotech will be responsible for commercialization of the new hepatitis B vaccine candidates. Financial details of the agreement were not disclosed. Two-dose hepatitis B vaccine Rhein Biotech, in collaboration with Corixa, is developing a two-dose hepatitis B vaccine that includes Corixas RC-529 adjuvant. Results of the primary efficacy analyses from the ongoing phase 3 trial showed that there were significantly more patients seroprotected after two immunizations with Rhein Biotechs Hepatitis B vaccine plus RC-529 than with two immunizations of the currently marketed three-dose Hepatitis B vaccine alone (95.5 percent vs. 82.1 percent, p=0.001). The two-dose vaccine is being developed for travellers, patients undergoing surgery, medical personnel, and other people who require fast protection against possible infection with hepatitis B. It may also be used in alternative mass vaccination programs against hepatitis B infection. Daan Ellens, CEO and President of Rhein Biotech: Rhein Biotech has extended its strong position in the hepatitis B vaccine field, by developing this unique two-dose monovalent hepatitis B vaccine. With a planned pilot introduction in South America at the end of this year we are well on track for entry into new markets both in Europe as well as in other countries around the globe. Steven Gillis, Ph.D., chairman and CEO of Corixa: “We are pleased both with the clinical and collaborative progress of our RC-529 program. Our partnership with Rhein Biotech is another affirmation of the potential value of our proprietary adjuvant portfolio. We are encouraged by the initial results of the phase 3 hepatitis B vaccine trial and look forward to further development and expansion of this program. Information about the companies Rhein Biotech is a vaccine oriented global biotechnology group. Rhein Biotech develops, produces and markets prophylactic vaccines and develops new therapeutic vaccines based on its platform technologies. With Hepavax- Gene, manufactured by subsidiary GreenCross Vaccine, the Group has advanced to the worlds third largest producer of hepatitis B vaccine. Rhein Biotech currently markets 13 products reaching 75 percent of the worlds population. The Group employs over 300 people, with one third in R&D. Rhein Biotech is listed on the Neuer Markt (Frankfurt), where it is included in the Nemax 50 index. For more information on Rhein Biotech, visit www.rheinbiotech.com. Corixa is a developer of immunotherapeutics with a commitment to treating and preventing autoimmune diseases, cancer and infectious diseases by understanding and directing the immune system. Corixa is focused on immunotherapeutic products and has a broad technology platform enabling both fully integrated vaccine design and the use of its separate, proprietary product components on a stand- alone basis. Corixa currently has 18 programs in clinical development and 22 programs in preclinical development. The company partners with numerous developers and marketers of pharmaceuticals, targeting products that are Powered by Corixa technology with the goal of making its potential products available to patients around the world. Corixa was founded in 1994 and is headquartered in Seattle, Washington, with additional operations in Hamilton, Montana and South San Francisco, California. For more information, please visit Corixa’s Website at www.corixa.com or call the company’s investor relations information line at 1.877.4CORIXA or 877/426- 7492. For further information please contact: Rhein Biotech N.V. Company Contact: Marcel Jacobs Communication Manager T: +31 (0)43 / 35 67 894 F: +31 (0)43 / 35 67 899 E: m.jacobs@rheinbiotech.com Media Contact: Claudia Hagedorn, IR-Consultant Vom Hoff Kommunikation GmbH, T: +49 (0)211 / 515 805 16 F: +49 (0)211 / 515 805 55 E: c.hagedorn@vomhoff.de Corixa Company contact: Jim DeNike T: + 1 206754 5716 Denike@corixa.com end of message, (c)DGAP 09.04.2002