UK-based biopharmaceutical company Oxford BioMedica has reported that, as part of Sanofi-Aventis’s reprioritization of its product portfolio, Oxford BioMedica has regained worldwide rights to TroVax, its therapeutic cancer vaccine.
Oxford BioMedica will receive an immediate payment of $16.5m, which includes an amount in settlement of certain previously committed development costs.
In addition, Sanofi-Aventis will continue to support Oxford BioMedica at the forthcoming meeting with the FDA to assess the results of the Phase III Trist study in renal cancer and to secure guidance on potential further clinical development.
Subject to the outcome of the FDA’s review, which is anticipated before the end of the second quarter of 2009, the company intends to pursue new partnering and development opportunities for TroVax.
John Dawson, Oxford BioMedica’s CEO, said: We understand and respect that Sanofi-Aventis’s portfolio review has resulted in a change of focus and a decision not to progress the development of TroVax. We remain committed to the successful development and commercialization of TroVax and we are working constructively with the FDA to define the potential development path for further trials.
Subject to the FDA’s review, we intend to pursue a number of commercial opportunities and, in addition, work with Quasar and other clinical groups that may want to sponsor independent clinical trials of TroVax.