WATERTOWN, Mass., April 25 /PRNewswire/ -- V. I. Technologies, Inc.
(VITEX)(Nasdaq: VITX) today announced it has entered into a worldwide license
and distribution agreement with Amersham Pharmacia Biotech, the life science
business of Nycomed Amersham plc (NYSE: NYE; London: NAM). Under the
agreement, Amersham Pharmacia Biotech will exclusively market and distribute
VITEX's INACTINE(TM) pathogen inactivation technology to manufacturers of
biopharmaceuticals and transgenic products and to plasma fractionators. VITEX
retains all rights for the INACTINE(TM) technology with regard to blood
components such as red cells, platelets and plasma.
For the license, VITEX will receive a significant up front cash payment,
the potential to receive considerably more in milestone cash payments and
research support as well as ongoing royalties tied to sales and use of the
technology by Amersham Pharmacia Biotech customers. Product will be sold
through Amersham Pharmacia Biotech's worldwide sales force. Amersham
Pharmacia Biotech and VITEX will also collaborate on the development and
refinement of the technology to take full advantage of the opportunity in all
markets.
"This agreement further validates the expanding role of INACTINE(TM)
technology in enhancing the safety of many blood-derived and biopharmaceutical
products," said John Barr, President and CEO of VITEX. "INACTINE(TM) is a
platform technology with broad-based use, having demonstrated its ability to
inactivate resistant, non-enveloped viruses in addition to enveloped viruses.
We are pleased to add Amersham Pharmacia Biotech to our growing list of
collaborators in the commercialization of the INACTINE(TM) technology."
The licensing of INACTINE(TM) is part of Amersham Pharmacia Biotech's
growing focus on the field of BioSafety -an area that has grown rapidly in
importance following the threats of HIV, hepatitis and other viruses. Drug
companies use BioSafety technologies to inactivate and remove viruses and
other pathogens from biopharmaceutical products, such as blood-derived
products, transgenic products and products made in mammalian cell lines.
Recent statements by the FDA and other regulatory authorities that any
biologics-based pharmaceutical must use multiple viral inactivation
technologies support this focus.
Mr. Barr continued, "Amersham Pharmacia Biotech's BioSafety efforts have
been primarily focused on non-enveloped virus inactivation, INACTINE(TM)'s
strength. Non-enveloped viruses such as parvoviruses are of increasing
concern due to the difficulty destroying these viruses without harming the
product. Cangene Corp., a Canadian biopharmaceutical company, recently
incorporated INACTINE(TM) as a third major virus inactivation step into the
manufacturing process for its investigational varicella zoster immune globulin
product, triggering a milestone payment to VITEX. The first fractionation
customer for INACTINE(TM), Cangene plans to file to start a clinical trial for
the treated product by year-end. Responsibility for this and other customer
relationships in the biopharmaceuticals, transgenics and plasma fractionation
fields will transfer to Amersham Pharmacia Biotech as part of our new
agreement with them."
Amersham Pharmacia Biotech, the life science business of Nycomed Amersham
plc (NYSE: NYE; London: NAM) is at the frontier of new healthcare, providing
the technologies to discover, develop and deliver therapies faster and more
cost-effectively than ever before. An international market leader in most of
its markets, its innovative systems are used to sequence genes, uncover the
structure and function of genes and proteins, separate biomolecules, screen
potential drugs and manufacture biopharmaceuticals.
VITEX is a leading developer and manufacturer of a broad portfolio of
blood products that utilize its patented viral inactivation technologies
designed to ensure product safety. The technologies are tailored for all
blood component applications and other blood-derived products, including
plasma, plasma derivatives, red blood cells and platelets. The first of
VITEX's virally inactivated products, PLAS+(R) SD, is the only FDA-approved
method for viral inactivation of plasma.
For further information, please visit the VITEX web site at
http://www.vitechnologies.com .
Except for the historical information contained herein, the matters
discussed are forward-looking statements made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995. These
statements involve risks and uncertainties, such as quarterly fluctuations in
operating results, the timely availability of new products, market acceptance
of the company's products, the impacts of competitive products and pricing,
government regulation of the company's products and other risks and
uncertainties set forth in the company's filings with the Securities and
Exchange Commission. These risks and uncertainties could cause actual results
to differ materially from any forward-looking statements made herein.
To receive additional information on V. I. Technologies, Inc., via fax, at
no charge, dial 1-800-PRO-INFO and enter code VITX.
SOURCE V.I. Technologies, Inc.
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Related links:
http://www.vitechnologies.com
CONTACT:
John Barr, President and CEO of V.I.
Technologies, Inc., 617-926-1551, ext. 7256; or Alison Ziegler,
Brian Gill or Deanne Eagle, 212- 661-8030, all of The Financial
Relations Board
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