Immunovaccine and PharmAthene have signed an exclusive worldwide licence agreement to develop and commercialise recombinant protective antigen anthrax vaccine (rPA) candidate.
Through using Immunovaccine's proprietary DepoVax vaccine platform, the companies will develop an adjuvanted non-alum based rPA vaccine.
Under the deal, PharmAthene will secure exclusive worldwide rights from Immunovaccine to use DepoVax to develop and commercialise novel single dose anthrax vaccine.
Immunovacine CEO Marc Mansour said: "This type of strategic partnership will allow us to capitalise on the broad potential of the DepoVax platform in infectious disease while advancing core opportunities for DepoVaxTM in immuno-oncology."
DepoVaxTM is a patented formulation, which offers controlled and prolonged exposure of antigens plus adjuvant to the immune system, resulting in specific and sustained immune response with the potential for single-dose effectiveness.
The platform can be used with a broad range of target antigens for preventative or therapeutic applications.
PharmAthene's rPA is the active component and antigen of the firm's clinical stage SparVax anthrax vaccine.
When formulated as SparVax, the antigen has completed clinical trials in around 700 individuals, and demonstrated to be both safe and immunogenic.
As part of the deal, Immunovaccine is eligible to receive annual payments of $200,000, payments of up to $8m for the achievement of development, the US and international regulatory milestones and initial product sales.
The deal will also allow Immunovaccine to secure $42m for the achievement of certain sales targets, as well as up to $50m if all milestones are achieved.
In addition, Immunovaccine will receive a royalty on net sales and will not take responsibility for product development costs.
