Microscience will pay UMBI an upfront license fee plus milestones and royalties if the products based on the technology are successful. The parties have agreed not to disclose further financial details of the agreement.
"We are pleased to establish collaboration with Microscience," says UMBI President Jennie C. Hunter-Cevera. "I share the confidence of Dr. Lewis that Microscience is cognizant of the critical questions involved in development of effective DNA vaccines and has put in place a research program with a high likelihood of success. They are an ideal partner to help UMBI achieve its commercialisation objectives."
At Microscience, CEO Rod Richards says, "This agreement underlines our commitment to broaden our development pipeline following our progress in developing a broad oral delivery system. It also gives us the opportunity to enter into the important and commercially attractive area of cancer vaccination in addition to other disease targets." He adds, "The license provides Microscience with the opportunity to expand our spi-VEC oral delivery platform, developing a range of DNA vaccines."
Robert Gallo, director, UMBI's Institute of Human Virology, comments, "Bactofection has the potential to get vaccines to people in developing areas of the world where they may have been unaffordable and unavailable. I am very proud to see our research on Bactofection move from the laboratory to clinic."
Jim Hughes, UMB vice president for research and development, says, "We are proud that research begun here at the University has developed into technology that may lead to new ways of treating illness. This agreement shows how private companies and biomedical researchers can work together to advance science and provide new funding for future res
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Contact: Steve Berberich
berberic@umbi.umd.edu
301-738-6295
University of Maryland Biotechnology Institute
5-Sep-2002