Bavarian Nordic and Oxford BioMedica settle all legal disputes on MVA-BN®
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Kvistgård, Denmark, January 27, 2010 - Bavarian Nordic A/S (OMX: BAVA) announced today that Bavarian Nordic and Oxford BioMedica have reached a global settlement ending the legal disputes between the parties on matters relating to Modified Vaccinia Ankara (MVA-BN®).
Under the agreement, Bavarian Nordic will grant a license to its MVA-BN® patents in return for Oxford BioMedica making milestone payments and royalties. As a part of the agreement Oxford BioMedica will grant Bavarian Nordic a license to its heterologous prime-boost patents in return for Bavarian Nordic making milestone payments and royalties and a sub-license under poxvirus patents licensed to Oxford BioMedica by sanofi aventis.
Under the settlement, the terms of which are confidential, all pending litigation will cease and all oppositions filed at the European Patent Office by Oxford BioMedica will be withdrawn. In addition both companies have agreed to initiate business discussions concerning a possible future collaboration based on each company's expertise in poxvirus vaccines and Bavarian Nordic's commercial manufacturing capability.
The agreement will have no impact on the company's financial guidance for 2009 and 2010.
In a joint statement, John Dawson CEO of Oxford BioMedica and Anders Hedegaard CEO of Bavarian Nordic commented: "This settlement brings to an end the legal disputes between the two companies and provides a basis for both companies to progress their respective vaccine businesses."