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news.MedImmune and GlaxoSmithKline have amended a licensing agreement, so that MedImmune may receive certain milestone payments and royalties on future development and sales of an investigational cervical cancer vaccine, now in phase III development by Merck & Co.
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MedImmune may also receive certain milestone payments and royalties on future development and sales of an investigational vaccine co-developed by MedImmune and GSK for human papillomavirus (HPV), the leading cause of cervical cancer.
In December 1997, MedImmune entered into an exclusive license agreement with GSK for certain patents and know-how that have formed the basis for the development of an HPV vaccine by MedImmune and GSK.
GSK has granted a sublicense to MedImmune’s HPV patent rights to Merck as it relates to Merck’s separate and independent HPV vaccine program.
As MedImmune will now receive milestone and royalty payments for both GSK and Merck products, the amendment could help temper recent bad news for the company – it has already sent shares up by almost 3.5%.
MedImmune recently reported losses for its 2004 earnings due in part to the cancellation of its FluMist partnership with Wyeth, with a net loss of $4 million for the full year, compared to net earnings of $183 million in 2003.