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Biomira and Merck KGaA sign amended and restated collaboration and supply agreements related to Stimuvax(R)
Biomira and Merck KGaA sign amended and restated collaboration and supply agreements related to Stimuvax(R).
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[{"type":"text","content":"\n\n\n\nEDMONTON, Aug. 8 /CNW/ - Biomira Inc. (Nasdaq: BIOM) (TSX: BRA) today\nannounced the signing of amended and restated collaboration and supply\nagreements related to Stimuvax(R) with Merck KGaA of Darmstadt, Germany. The\namended agreements restructure the agreements originally signed in 2001, and\nare based upon the letter of intent signed in January 2006. Stimuvax is an\ninnovative investigational therapeutic cancer vaccine designed to induce an\nimmune response to cancer cells that express MUC1, a protein antigen widely\nexpressed on common cancers. Merck KGaA currently is conducting a global\nPhase 3 trial of Stimuvax in patients with unresectable Stage III non-small\ncell lung cancer (NSCLC).\n\n\nUnder the terms of the restated agreements, Merck will have world wide\nmarketing rights to and will be entirely responsible for the further clinical\ndevelopment of Stimuvax. Biomira is entitled to development and sales-based\nmilestone payments and a royalty on net sales. Biomira retains responsibility\nfor the manufacture of Stimuvax, including process development and scale-up\nfor commercial manufacturing. Merck will exclusively purchase Stimuvax from\nBiomira; with respect to purchases for commercial sales, the purchase price\nwill be subtracted from Biomira's royalty. The restated agreements provide\nBiomira with revised payments based on certain milestones related to\nmanufacturing scale-up and process transfer. Biomira also will receive a\npayment of U.S. $2.5 million upon clearance of the transaction with the U.S.\nanti-trust authorities.\n\n\n"We are pleased to conclude these revised agreements with Merck,\nenhancing our relationship for this exciting product," said Dr. Robert L.\nKirkman, M.D., President and Chief Executive Officer of Biomira. "Given the\nsignificant clinical and commercial potential for Stimuvax, we believe that\nMerck KGaA's expertise and resources in global clinical development, sales and\nmarketing will help to bring this innovative vaccine to as many patients as\npossible. Merck KGaA has demonstrated its ability to bring important new\ncancer therapies to market, and we believe this collaboration will enable\nrobust and efficient development of Stimuvax in NSCLC and, potentially,\nseveral additional cancer indications."\n\n\nMerck KGaA and its U.S. affiliate, EMD Serono, ...