Antigenics Inc announced the sale of its manufacturing rights for feline leukemia virus (FeLV) vaccine to French veterinary pharmaceutical manufacturer Virbac SA for $14.25 million in cash.
"Monetizing this non-core asset strengthens our balance sheet as we focus the company's efforts on bringing Oncophage to the market," commented Garo H. Armen, PhD, chairman and CEO of Antigenics.
Virbac S.A. has held exclusive worldwide marketing rights to the FeLV vaccine since 1983, and will now acquire all remaining rights, related equipment, intellectual property, regulatory filings and inventories associated with the manufacture of the product under the terms of the transaction. The company will also take over related manufacturing premises in Framingham, Mass.
Antigenics acquired the assets in 2000 through the purchase of Aquila Biopharmaceuticals Inc. The vaccine is based on Antigenics' proprietary FeLV technology, a patented formulation that utilizes a FeLV antigen. In 2003, this FeLV business achieved sales of $3.5 million for Antigenics.
Antigenics is working to develop personalized immunotherapeutics and revolutionary treatments for cancers, infectious diseases and autoimmune disorders. The company's lead product candidate is Oncophage, a late-stage, personalized cancer vaccine being evaluated in several indications, including renal cell carcinoma and metastatic melanoma. Antigenics' portfolio also includes AG-858, a personalized cancer vaccine in Phase II development; Aroplatin, a liposomal chemotherapeutic; and AG-702/AG-707, a Phase I genital herpes program.