US Government Awards Contract to Bavarian Nordic for the Development
of Freeze-Dried IMVAMUNE® Small
(Thomson Reuters ONE) - Kvistgaard, Denmark, November 17 2009 - Bavarian Nordic A/S (OMX:BAVA) announced today that BARDA (Biomedical Advanced Research andDevelopment Authority) has awarded a new contract to Bavarian Nordicfor the development of a freeze-dried version of its IMVAMUNE®smallpox vaccine with a total prospective value of USD 40 million.The contract provides funds to validate the new freeze-driedmanufacturing process and the associated pre-clinical and clinicalstudies to support the advanced development of a freeze-dried versionof IMVAMUNE®. The base year funding represents 33% of the totalcontract value, followed by four additional years of optionalfunding, which are triggered by the completion of pre-determinedtechnical milestones. These freeze-dried development activities willbe performed in parallel to the licensure activities of the currentliquid-frozen IMVAMUNE® formulation under the RFP-3 contract.The contract does not affect the company's expectations for the 2009full year results.With this contract, the US Government has to-date awarded contractsto Bavarian Nordic for the development and procurement of IMVAMUNE®worth more than USD 680 million. Under the ongoing RFP-3 contract,Bavarian Nordic will deliver 20 million doses of IMVAMUNE® in thecurrent liquid-frozen formulation. Once the contract option for anadditional 60 million doses is expectedly exercised, these vaccineswill be delivered in the liquid-frozen formulation as well. Thus, thenew contract will have no influence on the ongoing contracts, butrepresents an additional business opportunity and will expectedlyconstitute the gateway towards securing additional contracts for thisnew freeze-dried version with the US Government and outside the US aswell.A freeze-dried formulation of IMVAMUNE® offers various new advantagesin terms of a potential increased shelf-life compared to the currentliquid-frozen formulation. Additionally, this would help overcome thechallenges with the cold-chain logistics and storage.Anders Hedegaard, President & CEO of Bavarian Nordic said: "We areexcited about receiving yet another contract from the US Governmentin support for the development of an advanced freeze-dried version ofour IMVAMUNE® smallpox vaccine. It clearly demonstrates the continuedcommitment from the US Government to support the development ofadvanced medical countermeasures and it strengthens our confidence,that the option to procure up to an additional 60 million doses ofIMVAMUNE® under the ongoing RFP-3 contract will be exercised."Asger AamundChairman of the BoardContactAnders Hedegaard, President & CEO. Phone +45 23 20 30 64http://hugin.info/100065/R/1355436/328993.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 17.11.2009 - 08:01 Uhr
Sprache: Deutsch
News-ID 8472
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