Neovacs and Stellar Biotechnologies sign joint venture agreement to create Neostell SAS
May 12 2016 - 2:15AM
Neovacs (Alternext Paris:ALNEV) a leader in active
immunotherapy for the treatment of autoimmune diseases, today
announced that the Company has finalized the terms of its
partnership with US company
Stellar Biotechnologies
Inc. ("Stellar") (Nasdaq:SBOT), to
determine the creation of the production company Neostell SAS under
a form of a joint venture, based in the Paris area and owned 70% by
Neovacs and 30% by Stellar Biotechnologies.
Under the terms of this joint venture agreement,
Neovacs and Stellar Biotechnologies have agreed to combine their
skills, to manufacture and sell all types of conjugated vaccines to
third party customers worldwide, as well as produce all of Neovacs’
Kinoids, including IFNα-Kinoid. Investments for this production
unit will start after the results of the Phase IIb study of
IFNα-Kinoid in lupus conducted by Neovacs and currently ongoing.
Beyond the interest of 30% held by Stellar Biotechnologies, Neovacs
has received € 5 million for this project from the public funding
program “PIAVE” set up by Bpifrance.
Miguel Sieler, Chief Executive Officer of
Neovacs said: “This joint venture with Stellar
Biotechnologies is an important alliance because it further
strengthens Neovacs’ industrial plan. Neovacs has secured
funding to move forward on the manufacturing facility and now this
joint venture provides access to a scalable capacity of KLH which
is a key component of our Kinoid technology. These steps will
support the manufacturing infrastructure as we progress through
clinical trials and to potential market launch of our KLH-Kinoid
immunotherapy vaccines.”
“This partnership is both a natural extension of
Stellar’s strong relationship with Neovacs and, we believe, a
unique opportunity for Stellar. It will position Stellar to benefit
from the anticipated manufacturing and sale of finished
immunotherapy products and to advance the market for our KLH
protein products,” stated Frank Oakes, President, CEO and
Chairman of Stellar Biotechnologies, Inc. “Through
this joint venture, Stellar and Neovacs can work together to ensure
the success of Neovacs’ products like
IFNα-Kinoid for
lupus while we lay the groundwork to offer similar support to other
companies developing KLH-based immunotherapies.”
About Stellar Biotechnologies,
Inc.
Stellar Biotechnologies, Inc. (Nasdaq:SBOT) is the
leader in sustainable manufacture of Keyhole Limpet Hemocyanin
(KLH), an important immune-stimulating protein used in wide-ranging
therapeutic and diagnostic markets. KLH is both an active
pharmaceutical ingredient (API) in many new immunotherapies
(targeting cancer, immune disorders, Alzheimer's and inflammatory
diseases) as well as a finished product for measuring immune
status. Stellar Biotechnologies is unique in its proprietary
methods, facilities, and KLH technology. We are committed to
meeting the growing demand for commercial-scale supplies of GMP
grade KLH, ensuring environmentally sound KLH production, and
developing KLH-based active immunotherapies.
About Neovacs
Created in 1993, Neovacs is today a leading
biotechnology company focused on an active immunotherapy technology
platform (Kinoids) with applications in autoimmune and/or
inflammatory diseases. On the basis of the company’s proprietary
technology for inducing a polyclonal immune response (covered by
five patent families that potentially run until 2032) Neovacs is
focusing its clinical development efforts on IFNα-Kinoid, an
immunotherapy being developed for the indication of lupus and
dermatomyositis. Neovacs is also conducting preclinical development
works on other therapeutic vaccines in the fields of auto-immune
diseases, oncology and allergies. The goal of the Kinoid approach
is to enable patients to have access to safe treatments with
efficacy that is sustained in these life-long diseases.
www.neovacs.fr
Contacts
NEOVACS – Corporate Communication & Investor Relations
Charlène Masson
+33 (0)1 53 10 93 14
cmasson@neovacs.com
Investor Relations / Financial Communications Germany – MC Services
Raimund Gabriel
+49-89-21-02-28-30
raimund.gabriel@mc-services.eu
Press / U.S. Inquiries – The Ruth Group
Lee Roth / Joseph Green
+1-646-536-7012 / 7013
lroth@theruthgroup.com / jgreen@theruthgroup.com
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