Bavarian Nordic and Oxford BioMedica settle all legal disputes on MVA-BN®
(Thomson Reuters ONE) - Kvistg?, Denmark, January 27, 2010 - Bavarian Nordic A/S (OMX: BAVA) announcedtoday that Bavarian Nordic and Oxford BioMedica have reached a global settlementending the legal disputes between the parties on matters relating to ModifiedVaccinia Ankara (MVA-BN®).Under the agreement, Bavarian Nordic will grant a license to its MVA-BN® patentsin return for Oxford BioMedica making milestone payments and royalties. As apart of the agreement Oxford BioMedica will grant Bavarian Nordic a license toits heterologous prime-boost patents in return for Bavarian Nordic makingmilestone payments and royalties and a sub-license under poxvirus patentslicensed to Oxford BioMedica by sanofi aventis.Under the settlement, the terms of which are confidential, all pendinglitigation will cease and all oppositions filed at the European Patent Office byOxford BioMedica will be withdrawn. In addition both companies have agreed toinitiate business discussions concerning a possible future collaboration basedon each company's expertise in poxvirus vaccines and Bavarian Nordic'scommercial manufacturing capability.The agreement will have no impact on the company's financial guidance for 2009and 2010.In a joint statement, John Dawson CEO of Oxford BioMedica and Anders HedegaardCEO of Bavarian Nordic commented: "This settlement brings to an end the legaldisputes between the two companies and provides a basis for both companies toprogress their respective vaccine businesses."ContactAnders Hedegaard, President & CEO. Phone +45 23 20 30 64Not for release, publication or distribution, directly or indirectly in or intoAustralia, Canada, Japan or the United StatesThis announcement does not constitute or form part of an offer to sell or thesolicitation of an offer to buy the securities of Bavarian Nordic A/S (the"Securities") in Australia, Canada, Japan or the United States or in any otherjurisdiction. The Securities may not be offered or sold in the United Statesabsent registration or an exemption from registration under the U.S. SecuritiesAct of 1933, as amended. The issuer of the Securities has not registered, anddoes not intend to register, any portion of the Offering in the United States orin any jurisdiction outside Denmark and the United Kingdom, and does not intendto conduct a public offering of the Securities in the United States or in anyjurisdiction outside Denmark and the United Kingdom. Copies of this announcementare not being made and may not be distributed or sent into Australia, Canada,Japan or the United States.Forward-looking statementsThis announcement includes "forward-looking statements" that involve risks,uncertainties and other factors, many of which are outside of our control thatcould cause actual results to differ materially from the results discussed inthe forward-looking statements. Forward-looking statements include statementsconcerning our plans, objectives, goals, future events, performance and/or otherinformation that is not historical information. We undertake no obligation topublicly update or revise forward-looking statements to reflect subsequentevents or circumstances after the date made, except as required by law.About Bavarian NordicBavarian Nordic A/S is a leading industrial biotechnology company developing andproducing novel vaccines for the treatment and prevention of life-threateningdiseases with a large unmet medical need. The company's pipeline is focused inthe three areas; biodefence, cancer and infectious diseases, and includes sevendevelopment programmes. Two programmes are under preparation for Phase III:IMVAMUNE®, a third-generation smallpox vaccine is being developed under acontract with the US government, and PROSTVAC(TM), a therapeutic vaccine foradvanced prostate cancer is being developed under a collaboration agreement withthe National Cancer Institute.Bavarian Nordic is listed on NASDAQ OMX Copenhagen under the symbol BAVA.For more information please visit www.bavarian-nordic.com
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Datum: 27.01.2010 - 02:01 Uhr
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