Bavarian Nordic rejects claim from Helmholtz Zentrum München
Kvistgaard, Denmark, August 31, 2009- Bavarian Nordic A/S (OMX: BAVA) announced today that it has been notified by the ICC International Court of Arbitration that a request for arbitration has been received from Helmholtz Zentrum München, Deutsches Forschungszentrum für Gesundheit und Umwelt GmbH (formerly also known as GSF).
The arbitration request is based on two old agreements with Bavarian Nordic from 1994 and 1997 regarding a collaboration on certain recombinant vaccines, which was formally terminated in 2001. The agreements do not encompass the MVA-BN® patents but provide Bavarian Nordic with exclusive royalty bearing license to specific patents on recombinant vaccines and include clauses dealing with transfer of know how pertaining thereto. Nevertheless, Helmholtz Zentrum München now in 2009 claims rights to royalties on Bavarian Nordic's MVA-BN® based vaccines, including IMVAMUNE®.
Anders Hedegaard, President & CEO of Bavarian Nordic said: "We view this claim based on the old agreements as being baseless and without merit. We are confident that we will prevail should this claim continue at the Court of Arbitration."