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news.Drug Royalty Corporation has acquired the right to receive royalties on the sales of the vaccine FluMist from the University of Michigan. Under the terms of the agreement, the inventors of some of the technology used to develop FluMist and the University will receive up to $35 million.
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FluMist is a live trivalent virus vaccine that uses an attenuated form of the influenza virus to stimulate a protective immune response in the body. It was approved by the FDA in 2003 for active immunization for the prevention of disease caused by influenza A and B viruses in healthy people aged five to 49 years old.
The next generation of FluMist was approved in January 2007 and will be launched in time for the 2007/2008 flu season.
Speaking on behalf of DRC, Paul Kirkconnell, managing director, said: “We are very pleased to be working with an institution like the University of Michigan to purchase a portion of their royalties on the sales of one of the most innovative flu vaccines in the world.”