SOURCE: Fina Biosoultions LLC
ROCKVILLE, MD--(Marketwire - Aug 20, 2012) - Fina Biosolutions LLC, a research and development stage biotechnology company focused on developing affordable conjugate vaccines, and The Chengdu Institute of Biological Products Co., Ltd (CDIBP) announced their agreement to license Finabio's conjugate vaccine technology for the development and manufacturing of Pneumococcal conjugate vaccines in China. The agreement will accelerate the multi-valent Pneumococcal vaccine development program at CDIBP.
The structure of the license in China includes an upfront payment, payments based on achievement of Chinese regulatory milestones, and royalty payments that are contingent upon successful development and commercialization. The agreement includes process development, personnel training at Fina BioSolutions labs in Rockville, MD and scalable manufacturing of conjugate vaccines at CDIBP.
"We are delighted to be working with one of the largest vaccine manufacturers in China," said Dr. Andrew Lees, CEO and Scientific Director of Fina Biosolutions. "Our expertise in bioconjugation allows vaccines to be manufactured at lower costs than traditional methods, which ultimately allows for greater uptake into developing economies and in turn benefits all of humanity. We look forward to working on additional vaccine candidates in the near future."
Current S. pneumonia vaccines are based on bacterial sugar polymers (polysaccharides), which are not effective in infants unless they are chemically linked to proteins, forming a conjugate. Conjugate vaccines are among the most complex and expensive vaccines to manufacture, but produce stronger and longer-lasting results than vaccines consisting of polysaccharides alone.
"We are pleased to have entered into a development agreement with FINA, an innovative company that has world class expertise in conjugate vaccines," said Dr. Yonghong Ge, Chengdu Institute of Biological Products Co., Ltd. "The technology is already proven in marketed vaccines Synflorix™, Menitorix™, Nimenrix™ and sold by GlaxoSmithKline (GSK). This vaccine, if successful, has the potential to benefit over 330 million people in China alone."
According to the World Health Organization (WHO), Pneumonia is the leading killer of children under five years of age worldwide, causing over two million deaths annually, mostly in developing countries with China and India leading the way. Over one million children each year die from Streptococcus pneumoniae (pneumococcus), the most common cause of severe pneumonia. The Chinese market for pneumococcal vaccines is well over 30 million doses for children under 2, and 300 million doses for persons over the age of 50.
About Fina Biosolutions LLC
Fina Biosolutions LLC is a private, research and development stage biotechnology company that discovers, develops, and collaborates to commercialize novel vaccine conjugates for prevention of life-threatening diseases. Fina has patented novel techniques to conjugate, purify, and manufacture conjugates using its proprietary chemistry to create complex conjugate vaccines. The technology is currently licensed by leading vaccine manufacturers in both Europe and Asia, including GlaxoSmithKline for marketed vaccines Synflorix™ Menitorix™, Nimenrix™, The Serum Institute of India Ltd., and others.
About Chengdu Institute of Biological Products Co., Ltd
Chengdu Institute of Biological Products Co., Ltd is part of China National Biotec Group (CNBG), which is a subsidiary of China National Pharmaceutical Group Corporation (SINOPHARM). As the largest manufacturer of vaccines and blood products in China and with 6 Biological Products Institutes in house, they have been devoted to the research, development, production and supply of biological products since 1919. The institutes, including CDBIP, have supplied and manufactured billions of doses of vaccines for smallpox, polio, Japanese encephalitis, and other serious infectious diseases for the developing world.
This press release contains forward-looking statements that are subject to risks and uncertainties, and includes statements that are not historical facts. Actual results could differ significantly from results discussed. Fina Biosolutions disclaims any intent or obligation to update forward-looking statements, except as required by law.