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Firm in vaccines contract.

DEESIDE-BASED medical diagnostics and pharmaceuticals group Provalis has signed a deal with Aventis Pasteur for the development of vaccines to prevent streptococcus pneumoniae infection.

Canada-based Aventis Pasteur gets a 24-month exclusive option under the terms of the agreement to evaluate Provalis's protein-based antigen vaccine candidates.

Streptococcus pneumoniae is a species of bacteria associated with respiratory and ear infections.

Aventis Pasteur is making an initial up front payment to Provalis and will pay all costs, back dated to May this year, connected with the development and patenting of the vaccine candidates.

The sums involved were not disclosed by Provalis yesterday but the Welsh company said it stands to benefit from multi-million dollar milestone payments and commercial royalty rates on any product commercialised, although it concedes it could take years to develop, test and launch the new vaccines.

Provalis chief executive Phil Gould said: ``We are delighted to have reached this agreement with a world-wide player in vaccine development. ''
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Title Annotation:Business
Publication:Daily Post (Liverpool, England)
Date:Dec 14, 2004
Words:157
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