BioDiem licenses vaccine tech to China's BCHT
Monday, 13 February, 2012
Melbourne's BioDiem Limited (ASX:BDM) has signed a licensing deal covering its influenza vaccine technology with China's Changchun BCHT.
The license, an exclusive for the Chinese private sector market, relates to BioDiem's Live Attenuated Influenza Vaccine (LAIV) technology.
BCHT already has a complementary license to the technology for the public market in China via a sub-license from the WHO.
The LAIV technology is used to develop a nasal spray vaccine for seasonal and pandemic influenza. It can be used with both egg- and cell-based production methods.
BioDiem itself licenses the technology from the Institute of Experimental Medicine in St Petersburg.
BioDiem CEO July Phillips said the deal represents the company's entry into the Chinese market. “China is an exciting territory with an enormous potential market for influenza vaccines,” she said.
The company did not disclose the specifics of the deal citing commercial confidentiality, but said that the terms and royalty agreements are “in line with industry standards”.
Australian biotechs are increasingly expected to set their sights on the Chinese market for strategic partnerships or investment funding in the coming decade.
BioDiem late last year acquired Savine Therapeutics, and the Scrambled Antigen Vaccine IP which Savine had acquired from the Australian National University.
Biodiem (ASX:BDM) shares rose 20% by Friday's close after the license agreement was announced.
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