BioVeris Completes Agreement With TheraCarb, Inc.
18 Enero 2006 - 7:00AM
PR Newswire (US)
Secures Option for Exclusive Rights to Vaccine Candidate for
Candida GAITHERSBURG, Md., Jan. 18 /PRNewswire-FirstCall/ --
BioVeris Corporation (NASDAQ:BIOV) announced today that it has
entered into an option agreement with TheraCarb, Inc. of Edmonton,
Alberta for exclusive patent rights to a vaccine candidate for
Candida albicans, the most common fungal pathogen affecting humans.
Under the agreement with TheraCarb, the Company acquired a first
option for exclusive rights to commercialize products for possible
use in the prevention, diagnosis and treatment of Candida albicans
infections. Under the agreement, the Company also will sponsor
approximately $170,000 of research at TheraCarb through the first
quarter of 2007 aimed at developing a vaccine candidate. The
Company will pay TheraCarb a $75,000 option fee and if the Company
exercises its option for exclusive rights to commercialize
products, it will pay a license issue fee, as well as milestones
fees for initiating and completing human clinical trials and
securing regulatory approvals, and royalties. Candida albicans is
the most common of the Candida species, which are ubiquitous,
opportunistic pathogens that colonize more than half of all healthy
individuals in the U.S., causing systemic disease in nearly 15% of
those who are immunocompromised. Resulting diseases include: *
Genital candidiasis, or vaginal yeast infections, which is the
second most common cause of vaginitis. Vaginal candidiasis affects
approximately 75% of all women at least once during their lifetime.
While certain risk factors increase the likelihood of contracting
vaginal candidiasis (e.g., pregnancy, diabetes, antibiotic use,
birth control pill use, corticosteroid use, being
immunocompromised), approximately 10% of women have recurring yeast
infections without precipitating risk. Antifungal therapy has a
high success rate; however, prolonged use of antifungal drugs,
particularly through self- medication without formal diagnosis, has
resulted in increased drug resistance. The carbohydrate-based
vaccine technology is expected to be a safe approach that provides
long-lasting immunity for this vulnerable population. * Invasive or
systemic candidiasis, which is common in newborns of low birth
weight and immunocompromised people. Although relatively rare,
systemic candidiasis represents the most serious Candida infection,
with a mortality rate as high as 77% for those who are
immunocompromised. This group includes patients scheduled to
receive abdominal surgery; transplantations including bone marrow,
kidney or heart; and immunosuppressive cancer therapy. A successful
vaccine could be used to provide protection prior to initiating
treatment of individuals who would become at high risk of
developing serious conditions due to Candida albicans and augment
conventional antifungal drug therapy. * Oropharyngeal candidiasis
or thrush, which is common in infants and immunocompromised adults.
* Esophagitis, which is common for immunocompromised people and
occurs in the majority of people with AIDS. * Cutaneous
candidiasis, which is common with heavily moistened skin and diaper
rash. About TheraCarb TheraCarb, Inc. is a private biotechnology
company which is operating in Edmonton Alberta. It was incorporated
in 2001 to research, develop and commercialize products based on
leading edge carbohydrate chemistry and other novel inventions that
exploit multivalent interactions. About BioVeris BioVeris
Corporation -- America's Biosecurity Company(TM) -- is an
integrated healthcare company developing proprietary technologies
in diagnostics and vaccinology. The Company is dedicated to the
commercialization of innovative products and services for
biosecurity and for healthcare providers, their patients and their
communities. BioVeris is headquartered in Gaithersburg, Maryland.
More information about the Company can be found at
http://www.bioveris.com/. This press release contains
forward-looking statements within the meaning of the federal
securities laws that relate to future events or BioVeris' future
performance. All statements in this press release that are not
historical facts, including any statements about the agreement with
TheraCarb, the Company's option for exclusive rights, market size
and growth, and the utility or effectiveness of Candida vaccines
are hereby identified as "forward-looking statements." The words
"may," "should," "will," "expect," "could," "anticipate,"
"believe," "estimate," "plan," "intend" and similar expressions
have been used to identify certain of the forward-looking
statements. In this press release, BioVeris has based these
forward-looking statements on management's current expectations,
estimates and projections and they are subject to a number of
risks, uncertainties and assumptions that could cause actual
results to differ materially from those described in the
forward-looking statements. Such forward-looking statements should,
therefore, be considered in light of various important factors,
including changes in general economic, business and industry
conditions. The foregoing sets forth some, but not all, of the
factors that could impact upon BioVeris' ability to achieve results
described in any forward-looking statements. A more complete
description of the risks applicable to BioVeris is provided in the
Company's filings with the Securities and Exchange Commission (SEC)
available at the SEC's web site at http://www.sec.gov/. Investors
are cautioned not to place undue reliance on these forward-looking
statements. Investors also should understand that it is not
possible to predict or identify all risk factors and that neither
this list nor the factors identified in BioVeris' SEC filings
should be considered a complete statement of all potential risks
and uncertainties. BioVeris has no obligation to publicly update or
release any revisions to these forward-looking statements to
reflect events or circumstances after the date of this press
release. First Call Analyst: FCMN Contact: DATASOURCE: BioVeris
Corporation CONTACT: George Migausky of BioVeris Corporation,
+1-301-869-9800, ext. 2013; or Investors: Jonathan Fassberg of The
Trout Group, +1-212-477-9007, ext. 16, or Media: Paul Caminiti or
Andrew Cole of Citigate Sard Verbinnen, +1-212-687-8080, all for
BioVeris Corporation Web site: http://www.bioveris.com/
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