Business
Merial Option Agreement
Merial Option Agreement.
About this update from Nanoco Group Plc
[{"type":"text","content":"\n Evolutec Group PLC\n04 April 2006\n\n\nFor immediate release 4 April 2006\n\n\n\n EVOLUTEC GROUP PLC\n\n ('Evolutec' or 'the Company')\n Evolutec and Merial Sign Option Agreement\n\nEvolutec Group plc (AIM: EVC), the biopharmaceutical company developing novel\nproducts for the treatment of allergic, inflammatory and autoimmune diseases, is\npleased to announce that Merial Limited, a world-leading, innovation-driven\nanimal health company, has signed an option agreement covering the animal health\nuses of Evolutec's vaccine technology.\n\nThis new agreement follows the positive result announced in 2005 in which Merial\ndemonstrated that Evolutec's vaccine technology significantly reduced the level\nof Boophilus tick infestation in cattle, a cause of major productivity losses\ndue to disease transmission, hide (skin) damage and anaemia.\n\nThe agreement grants Merial an exclusive option to acquire exclusive worldwide\nrights to Evolutec's vaccine technology for animal health uses in return for\nlicensing and milestone fees and a royalty on sales.\n\nMerial's development programme will evaluate Evolutec's technology in the area\nof vaccines against important tick-borne diseases in production and companion\nanimals and anti-tick vaccines. Any future development work will be undertaken\nat Merial's expense.\n\nMark Carnegie Brown, Evolutec's Chief Executive, commented: 'We are delighted\nthat Merial has decided to continue its evaluation of Evolutec's vaccine\ntechnology through this new agreement.'\n\nSpeaking for Merial, Bob Nordgren, Vice President of Biological Research and\nTechnology Acquisition, added: 'Merial is pleased to secure an option on\ncommercial rights to Evolutec's vaccine technology for use in animal health.'\n\n ENDS\n\nFor further information:\nEvolutec 0118 922 4480\nMark Carnegie Brown, Chief Executive Officer\nNicholas Badman, Chief Financial Officer\nwww.evolutec.co.uk\n\nBuchanan Communications 020 7466 5000\nMark Court/Tim Anderson/Mary-Jane Johnson\n\n\n\nNotes for Editors:\n\nAbout Evolutec\n\nEvolutec, which is based in Reading, UK, is a clinical stage biopharmaceutical\ncompany with a focus on allergy, inflammation and auto-immune diseases.\n\nThe Company has completed a positive 112 patient proof of concept Phase IIa\nclinical trial with rEV131, its lead product, in allergic rhinitis. rEV131 met\nth...