The original agreement, executed in 1998, provided Wyeth with access to certain core alphavirus vector technologies controlled by AlphaVax to develop vaccines for selected infectious diseases.
The new license refocuses the target disease fields and provides Wyeth with exclusive access to all relevant AlphaVax technologies for application to these target fields.
The exclusive nature of this new agreement will allow closer collaboration between the parties and significantly increases the financial terms of the original license. The new agreement also includes an equity investment in AlphaVax by Wyeth. Financial terms of the agreement were not disclosed.
“It is clear that vaccines are an increasingly important public health priority in a wide variety of diseases and biological threats, and this reality is driving significant new growth and investment,” said Peter Young, AlphaVax president and CEO.