EDMONTON, Alberta--(BUSINESS WIRE)--VaxAlta Inc., an animal health biotechnology company focused on the development of new vaccines using a novel glycoconjugate-based technology platform against a variety of pathogens, today announced that it has entered into a licensing and collaboration agreement with Scandinavian Biopharma Holdings AB, a Swedish company specialized in global vaccine development, manufacturing, registration and commercialization of biopharmaceutical products.
Under the terms of the agreement, Scandinavian Biopharma and VaxAlta will jointly be responsible for the development of potential vaccine candidates for C. jejuni for human applications, and Scandinavian Biopharma will lead the development, registration and commercialization of any successful vaccine. Scandinavian Biopharma shall have exclusive global rights for any products using VaxAlta’s technology in developed countries, and non-exclusive global rights in developing countries. In return, VaxAlta receives an upfront payment and potential development, regulatory, and sales milestone payments totaling up to US$102 million. In addition, Scandinavian Biopharma will pay VaxAlta undisclosed royalties on sales of products resulting from the collaboration. Additional financial details were not disclosed.
“We are happy to add C jejuni to our vaccine development pipeline. It strengthens our pipeline in the field of diarrheal vaccines where we are currently planning for phase III trials both for children in low- and middle-income countries as well as for travelers for our ETEC vaccine,” says Björn Sjöstrand, CEO of Scandinavian Biopharma. “We look forward to working with VaxAlta toward the common goal of reducing diarrheal illness through the development of vital vaccines that make a difference.
“As an animal health focused company, we were impressed with Scandinavian Biopharma and their ability to see the potential of our technology for human use. This partnership is a tremendous step forward in fighting foodborne illness stemming from C. jejuni infection impacting so many people in both industrialized and low-and-middle income countries. We are pleased to be working with such an innovative and socially conscious company,” says Dr. Christine Szymanski, President & CEO of VaxAlta. “In addition, we are happy to be following the recent vaccine-related announcements in Alberta and are proud to be part of the science and entrepreneurial community focused on the development of new vaccines in the province.”
Norton Rose Fulbright Canada LLP acted as legal counsel to VaxAlta on the transaction.
About VaxAlta Inc.
VaxAlta is a leading glycoconjugate vaccine research and development company based in Edmonton, Alberta. Founded in 2013, the company is focused on developing sugar-based, effective, affordable, and easy to administer livestock vaccines that eliminate the use of antibiotics.
About Scandinavian Biopharma Holdings AB
Scandinavian Biopharma Holdings AB is a research-based specialty biotechnology company determined to give people all over the world a longer and better life. The company is developing the first vaccine for protection against diarrhea caused by Enterotoxigenic E. coli (ETEC) in both travelers and endemic populations with funding support from Horizon 2020 (EU), EDCTP, (EU), USAMMDA (United States Army Medical Materiel Development Activity), Vinnova and PATH, an important development partner of the Bill and Melinda Gates Foundation. Scandinavian Biopharma also distributes a wide range of specialty biopharma products with a focus on vaccines and immunoglobulins.