Biokeys Pharmaceuticals, Inc. Announces Expanded Patent and Technology License Agreement with The University of Texas M. D. Anderson Cancer Center.Business Editors & Health/Medical Writers BIOWIRE2K SAN DIEGO--(BW HealthWire)--June 12, 2001 Biokeys Pharmaceuticals, Inc. (Pink Sheets: BKYS) announced today that it has entered into an expanded Patent and Technology License Agreement with The University of Texas M. D. Anderson Cancer Center. The agreement modifies the consideration granted M. D. Anderson for the license, grants important additional licensed subject matter in the area of HIV vaccine HIV vaccine AIDS As of mid-2005, there is no viable anti-HIV vaccine. See AIDS. , and grants the Company right of first refusal Right of First Refusal In general, the right of a person or company to purchase something before the offering is made available to others. Notes: For example, a football team may have the right of first refusal on a player's contract. for additional technologies. Under the terms of the agreement, M. D. Anderson has (1) taken a position of 414,830 common shares of the Company, (2) substantially reduced the royalty rate paid by the Company to M. D. Anderson on eventual sales of the Company's products developed using the licensed subject matter, (3) granted rights to additional patents and patent applications pertaining to licensed subject matter specifically in the field of cell mediated immunity inducing HIV vaccine, and (4) given a right of first refusal to license any technology developed by the scientists and labs covered in the original Patent and Technology License Agreement in the fields of both antiviral antiviral /an·ti·vi·ral/ (-vi´ral) destroying viruses or suppressing their replication, or an agent that so acts. an·ti·vi·ral adj. and anticancer research. Biokeys Pharmaceuticals, Inc. is a biopharmaceutical research and development company whose business strategy is to commercialize leading edge medical research through licensing agreements with prominent universities and research institutions. The Company focuses its energy in cancer and antiviral research to launch products that either extend the usefulness of current therapies or replace marginal therapies with new approaches to treatment. The Company's lead compound, CoFactor cofactor An atom, organic molecule, or molecular group that is necessary for the catalytic activity (see catalysis) of many enzymes. A cofactor may be tightly bound to the protein portion of an enzyme and thus be an integral part of its functional structure, or it may (TM), is a chemotherapy biomodulator designed to be used in conjunction with 5-FU, the world's most frequently used cancer drug. CoFactor is being readied to enter Phase II/III human clinical trials in the U.S. and Europe. Also in development is EradicAide(TM), a cell mediated, antibody-negative immunotherapeutic/vaccine for HIV HIV (Human Immunodeficiency Virus), either of two closely related retroviruses that invade T-helper lymphocytes and are responsible for AIDS. There are two types of HIV: HIV-1 and HIV-2. HIV-1 is responsible for the vast majority of AIDS in the United States. Infection/AIDS. In recently completed primate trials EradicAide has shown the ability to reduce HIV viral loads to undetectable levels with no development of viral disease or resistance. This press release contains forward-looking statements within the meaning of the "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such statements are made based on management's current expectations and beliefs. Actual results may vary from those currently anticipated based upon a number of factors, including uncertainties inherent in the drug development process, the timing and success of clinical trials, and the receipt of necessary approvals from the United States Food and Drug Administration United States Food and Drug Administration (FDA), n.pr a unit of the Public Health Service created to protect the health of the nation against impure and unsafe foods, drugs, and cosmetics. . The Company undertakes no obligation to release publicly any revisions, which may be made to reflect events or circumstances after the date hereof. |
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