TechnoVax Licenses Wyeth's Virus-Like Particle Vaccine Technology

Business Wire, Dec 11, 2006

TARRYTOWN, N.Y. -- TechnoVax Inc., a privately held developer of novel vaccine technologies announced that it has signed a license agreement with Wyeth (NYSE: WYE), to obtain rights to a fundamental patent application in the field of virus-like particle (VLP) technology. The agreement provides for an upfront payment, annual minimum royalty payments, milestone payments to Wyeth upon the achievement of certain development events, royalties on product sales, and an equity grant to Wyeth when TechnoVax completes an initial equity financing.

The patent application is based on viral vaccine research conducted by TechnoVax founder, Jose M. Galarza, D.V.M., Ph.D. while employed at Wyeth as a principal scientist, and is applicable to the preparation of vaccines against a number of potential pandemic organisms.

"This agreement gives TechnoVax access to its foundereIUs discoveries in the field of VLP vaccine research," says Dr. Galarza, President and CEO of TechnoVax.

Advantages of VLPeIUS

The VLP vaccine technology allows for the creation of structures that are morphologically identical to a virus, but lack the genetic material required for both replication and infection. VLP-based vaccines therefore, do not require chemical inactivation or attenuation as do some of the currently available vaccines. Vaccines based on VLPs trigger an immune response by attaching to host immune cells.

The technology allows for the production of vaccines against influenza in a cell-based rather than an egg-based system. The technology can also be implemented for the production of vaccines directed against other infectious agents and cancer targets. This is one of the more advanced technologies in the vaccine field.

About TechnoVax Inc.

TechnoVax is committed to the development of novel vaccines which are safer and more effective than those currently available. TechnoVax is presently evaluating preclinical phase vaccines to protect against H5N1 avian flu (several clades/variants), 1918 ("Spanish Flu"), H7N7 pandemic influenza, seasonal flu, and respiratory syncytial and parainfluenza viruses.