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news.Henderson Morley has received a letter of intent (LOI), from a specialist therapeutic drug development company relating to the intellectual property rights (IPR) of its ICVT portfolio, specifically the recurrent respiratory papilloma (RRP) indication.
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Reportedly, this LOI is additional to the LOI received by Henderson on October 8, 2009.
As announced on November 25, 2009, Henderson submitted an orphan designation application to both the FDA and the EMEA, which if successful, will give the RRP application of ICVT, ‘orphan status’. Discussions to purchase the IPR regarding ICVT include, but are not limited to, the orphan indication.
Simultaneously, Henderson continues to negotiate with other parties in respect of the sale of ICVT applications. This includes the specialist pharmaceutical company based outside the EU that sent Henderson an LOI in October 2009 indicating its interest in the human applications of ICVT. Henderson specifically excluded from these negotiations, RRP, ophthalmic, and veterinarian applications of ICVT.
Andrew Knight, executive chairman of Henderson Morley, said: “We are delighted at the interest the sale of ICVT has generated and we are continuing negotiations with a number of parties and hope to conclude a deal as soon as possible. The funds raised by the sale of ICVT will be used to bring the company’s stated strategy of becoming a ‘Pure Play’ vaccine company to fruition.”
However, the proposed sale of the IPR is still subject to further negotiation and it is anticipated that a decision acceptable to each party will be completed within approximately 45 days.