Bavarian Nordic rejects claim from Helmholtz Zentrum München

ID: 1003773
recent pressrelease next pressrelease

(Thomson Reuters ONE) - Kvistgaard, Denmark, August 31, 2009 - Bavarian Nordic A/S (OMX:BAVA) announced today that it has been notified by the ICCInternational Court of Arbitration that a request for arbitration hasbeen received from Helmholtz Zentrum München, DeutschesForschungszentrum für Gesundheit und Umwelt GmbH (formerly also knownas GSF).The arbitration request is based on two old agreements with BavarianNordic from 1994 and 1997 regarding a collaboration on certainrecombinant vaccines, which was formally terminated in 2001. Theagreements do not encompass the MVA-BN® patents but provide BavarianNordic with exclusive royalty bearing license to specific patents onrecombinant vaccines and include clauses dealing with transfer ofknow how pertaining thereto. Nevertheless, Helmholtz Zentrum Münchennow in 2009 claims rights to royalties on Bavarian Nordic's MVA-BN®based vaccines, including IMVAMUNE®.Anders Hedegaard, President & CEO of Bavarian Nordic said: "We viewthis claim based on the old agreements as being baseless and withoutmerit. We are confident that we will prevail should this claimcontinue at the Court of Arbitration."Asger AamundChairmanContactAnders Hedegaard, President & CEO. Phone +45 23 20 30 64http://hugin.info/100065/R/1338207/319203.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.



Keywords (optional):



Company information / Profile:

PressRelease by

Requests:



PressContact / Agency:



published by: hugin
print pressrelease  send to a friend  

Date: 08/31/2009 - 05:31
Language: English
News-ID 1003773
Character count: 0
Kontakt-Informationen:
Firma: Bavarian Nordic A/S
Ansprechpartner: Feedback to businesspress24.com about Pressrelease-id:
Stadt: London
Telefon:

Comments:



Number of hits: 221

Linking-Tips:



Direct Link to this PressRelease:






We would appreciate a link in your News-, Press- or Partner-Site.

Comments on this PressRelease






All members: 9 431
Register today: 1
Register yesterday: 0
Members online: 0
Guests online: 134


Don't have an account yet? You can create one. As registered user you have some advantages like theme manager, comments configuration and post comments with your name.