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Company to transfer S. pneumoniae patent portfolio to Aventis.
2004 FEB 4 - (NewsRx.com & NewsRx.net) -- Genome Therapeutics Corp. (GENE) and Aventis (AVE) have agreed to the sale of Genome Therapeutics' pending patent applications relating to the organism Streptococcus pneumoniae (S. pneumoniae) to Aventis Pasteur, the vaccines business of Aventis.
In exchange, Aventis Pasteur has made a $3 million cash payment to Genome Therapeutics.
"S. pneumoniae is one of the most frequent causes of respiratory tract infections today and has been shown, in many cases, to be resistant to the commonly used antibiotics. "We are committed to leveraging the technologies available to us to develop a vaccine that is effective in preventing infections caused by this pathogen," stated Michel DeWilde, executive VP, research and development for Aventis Pasteur. "The acquisition of this intellectual property portfolio is a part of our strategy to develop ...
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