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Vical and Aventis Restructure Agreements.(Brief Article)
2002 JAN 16 - (NewsRx.com & NewsRx.net) -- Aventis Pasteur, the vaccine business of Aventis SA (AVE), is obtaining rights to use Vical, Inc.'s, patented gene delivery technologies for specific oncology applications.
In exchange, Aventis Pasteur is paying an undisclosed licensing fee and giving up rights to develop and commercialize infectious disease vaccines and gene-based therapeutics for neurodegenerative diseases that were previously licensed from Vical. The agreement restructuring does not change Vical's net cash burn rate projection for 2001.
Aventis Pasteur had originally obtained rights from Vical to develop DNA vaccines for malaria, cytomegalovirus, Helicobacter pylori, Lyme disease, herpes zoster, and respiratory syncytial virus. Aventis Pharmaceuticals, another subsidiary of Aventis SA dedicated to prescription drugs, subsequently licensed rights from Vical to develop gene-based therapeutics for neurodegenerative diseases. All rights under these agreements are reverting to Vical, and Aventis will have no further obligations.
A separate licensing agreement with Aventis remains in force granting the company rights to use Vical's technology to develop and commercialize an angiogenic growth factor for cardiovascular applications. An agreement ...
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