Valneva announces signing of an exclusive license agreement
on EB66® Cell Line for Human and
Veterinary Vaccines in People's Republic of China
- The partner Jianshun Biosciences Ltd is granted exclusive
rights to commercialize the EB66® cell line in People's Republic of
China only
- Valneva receives EUR 2.5 million upfront payment and is
entitled to further annual license fees and royalties
- China's Human vaccine market reached nearly EUR 2 billion (RMB
13.7 billion) in 2012[1], with an average growth rate in the range
of 16%-18% expected between 2014 and 2018
- Valneva and Jianshun Biosciences Ltd see a significant business
opportunity arising from the growth of the vaccine market and the
technological shift of the Chinese vaccine manufacturing industry,
which will benefit from the EB66® cell line as a modern
cell-culture based production system.
Valneva SE ("Valneva"), a leading pure play vaccines biotech
company, announced today that it has signed an exclusive license
agreement with the Chinese company Jianshun Biosciences Ltd to
commercialize Valneva's EB66® cell line for the manufacturing of
human and veterinary vaccines in People's Republic of China
only.
The Partner, Jianshun Biosciences Ltd, headquartered in Lanzhou
(People's Republic of China), provides bio process and technology
services for Chinese biopharmaceutical companies. Dr. Luo Shun,
Founder and President of the company, is one of the "thousand
people plan"[2] experts (thousands of foreign experts, or
returning-Chinese talents) who have been nominated by the Central
Governmentto work in China and promote innovation and technological
development primarily in the high-tech and financial industries.Dr.
Luo Shun worked in the USA for Amgen and for Genentech.
Under the terms of the agreement, Jianshun Biosciences Ltd is
granted rights to sublicense Valneva's EB66® cell line to Chinese
vaccine companies which will then be able to develop, manufacture
and commercialize, in the People's Republic of China Territory
only, human and veterinary viral vaccines using the EB66® cell
line. All vaccines against influenza for use in humans are excluded
from the license agreement. Valneva will receive an upfront license
payment of EUR 2.5 million and an additional payment of EUR 0.5
million in 2016, as well as annual maintenance fees and 50% of
total revenues payable to Jianshun Biosciences Ltd from its sub
licensees. These payments should contribute to further improve the
profitability of the EB66® cell line in the coming years.
Valneva remains the full owner of the EB66® platform and will
continue to license its technology outside China.
Thomas Lingelbach, President and Chief Executive Officer
and Franck Grimaud, President and Chief Business Officer of
Valneva, commented "This agreement is an important step
forward in the international roll-out of our EB66® platform and we
think this is now the right time to address the Chinese market. We
are very pleased to collaborate with Jianshun Biosciences Ltd and
are convinced that Jianshun Biosciences Ltd and its CEO, Dr Luo
Shun, are the right partners to promote our cutting edge technology
among the local vaccine industry, which is booming."
China, as an emerging vaccine market, represents a major
opportunity for Valneva. The government has made a priority to
better protect the population from diseases, especially in endemic
areas and China's vaccine manufacturers are moving ahead to become
global suppliers of affordable vaccines. China's human vaccine
market is comprised of 42 vaccine manufacturers and in 2013 the
total quantity of vaccines manufactured in China amounted to about
755 million doses[3]. Chinese vaccine manufacturers consist of
state-owned enterprises, private enterprises and foreign-funded
enterprises. The state-owned enterprises take the leading position
with a 62% market share, followed by private enterprises and
foreign-funded enterprises with a market share of 34% and 4%
respectively.
To date, Valneva has more than 35 license agreements with the
world's largest pharmaceutical companies for the use of its EB66®
vaccine production platform in both human and animal health
vaccines. Valneva's proprietary platform has enabled three
veterinary vaccines and one human vaccine to be commercialized.
Contacts Valneva SE
Florence Hocdée-
Leroy
Teresa
Pinzolits
T: +33 (0)228 07 37
10
M: +43 676 845567357
communications@valneva.com
About Valneva SE
Formed in 2013 through the merger of Intercell AG and Vivalis
SA, Valneva is a biotechnology company developing, manufacturing
and commercializing innovative vaccines with a vision to protect
people from infectious diseases. The Company seeks financial
returns through focused R&D investments in promising product
candidates and growing financial contributions from commercial
products, striving towards financial self-sustainability.
Valneva's portfolio includes two commercial vaccines for
travelers: one for the prevention of Japanese encephalitis
(IXIARO®) and the second (Dukoral®) indicated for the prevention of
and protection against traveler's diarrhea caused by ETEC
(Enterotoxigenic Escherichia coli) and/or Cholera. The Company has
proprietary vaccines in development including candidates against
Pseudomonas aeruginosa, Clostridium difficile and Lyme Borreliosis.
A variety of partnerships with leading pharmaceutical companies
complement the Company's value proposition and include vaccines
being developed using Valneva's innovative and validated technology
platforms (EB66® vaccine production cell line, IC31® adjuvant).
Valneva is headquartered in Lyon, France, listed on
Euronext-Paris and the Vienna stock exchange and operates out of
France, Austria, Scotland and Sweden with approximately 400
employees. More information is available at www.valneva.com.
Forward-Looking Statements
This press release contains certain forward-looking statements
relating to the business of Valneva, including with respect to the
progress, timing and completion of research, development and
clinical trials for product candidates, the ability to
manufacture, market, commercialize and achieve market acceptance
for product candidates, the ability to protect intellectual
property and operate the business without infringing on the
intellectual property rights of others, estimates for future
performance and estimates regarding anticipated operating losses,
future revenues, capital requirements and needs for additional
financing. In addition, even if the actual results or development
of Valneva are consistent with the forward-looking statements
contained in this press release, those results or developments of
Valneva may not be indicative of the future. In some cases, you can
identify forward-looking statements by words such as "could,"
"should," "may," "expects," "anticipates," "believes," "intends,"
"estimates," "aims," "targets," or similar words. These
forward-looking statements are based largely on the current
expectations of Valneva as of the date of this press release and
are subject to a number of known and unknown risks and
uncertainties and other factors that may cause actual results,
performance or achievements to be materially different from any
future results, performance or achievement expressed or implied by
these forward-looking statements. In particular, the expectations
of Valneva could be affected by, among other things, uncertainties
involved in the development and manufacture of vaccines, unexpected
clinical trial results, unexpected regulatory actions or delays,
competition in general, currency fluctuations, the impact of the
global and European credit crisis, and the ability to obtain or
maintain patent or other proprietary intellectual property
protection. In light of these risks and uncertainties, there can be
no assurance that the forward-looking statements made in this press
release will in fact be realized. Valneva is providing the
information in these materials as of the date of this press
release, and disclaims any intention or obligation to publicly
update or revise any forward-looking statements, whether as a
result of new information, future events, or otherwise.
About Jianshun Biosciences Ltd
Jianshun Biosciences Ltd. is located in the Lanzhou
Economic-Technological Development Zone and was founded in March,
2011. Jianshun Biosciences Ltd. is a newly established company in
China that develops and manufactures serum-free, chemically-defined
cell culture media which includes liquid media and dry powder
media. The company also produces media for stem cells and primary
cells.
Jianshun Biosciences, Ltd. has a group of world-class experts, a
state of the art facility (equipment and instruments), a growing
market, and high-level cooperative partners as well as strong
government support.
Focusing on research and development, Jianshun Biosciences
provides serum-free, chemically-defined cell culture media to
biopharmaceutical companies in China and is capable of providing
customized processes and formulations for its customers.
Confronted with the current situation in the Chinese
biotechnology industry, Jianshun Biosciences has the responsibility
to make a contribution. It has both the ability and confidence to
work for the well-being of the Chinese people by producing the
highest quality raw materials for the biopharmaceutical
industry.
[1]Research and Investment Prospect of Human Vaccine Industry in
China, 2014-2018
[2]See more at:
http://www.china-briefing.com/news/2012/11/22/chinas-long-term-plan-to-import-thousands-of-highly-qualified-foreigners.html
[3]Research and Investment Prospect of Human Vaccine Industry in
China, 2014-2018
2015_03_17 Valneva EB66 in China ENG
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