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Oxford Biomedica reaches first TroVax milestone

Oxford BioMedica reaches first development milestone in its collaboration with sanofi-aventis for cancer immunotherapy treatment, TroVax, triggering a EUR 9m payment

UK-headquartered gene therapy company Oxford BioMedica has reached the first development milestone in its collaboration with sanofi-aventis (S-A) for TroVax, a cancer immunotherapy treatment, which triggered a payment of EUR 9m.

The milestone relates to the successful enrolment of 350 patients in the phase III TRIST study of TroVax in renal cancer, which represents half of the anticipated 700 patients to be enrolled on the trial.

Oxford and S-A entered a global development and commercialisation tie up for TroVax in March 2007. Per the agreement, Oxford received an initial payment of EUR 29m.

The EUR 9m payment is part of a potential EUR 19m in near-term milestone payments linked to the phase III TRIST study. Oxford could receive a total of EUR 518m, if development and registration targets are met for certain defined indications.

The original agreement includes additional undisclosed regulatory milestone payments for other cancer types, undisclosed commercial milestones when sales reach certain levels and escalating royalties on global sales.

S-A and Oxford are co-funding the ongoing TRIST study and the former company says it is committed to fund all other research, development, regulatory and commercialisation activities.

Oxford retains an option to participate in the promotion of TroVax in the US and the EU.

Professor Alan Kingsman, Oxford BioMedica's CEO, commented: "The clinical team at Oxford BioMedica is doing an excellent job in its management of the TRIST study. The trial remains on track to complete recruitment in Q1 2008. It is encouraging that we have reached this milestone of recruiting half of the anticipated patients within a few months of our collaboration with sanofi-aventis."

In a 5 September 2007 webcast, Kingsman revealed that TroVax had a sales potential of USD 1bn in renal and USD 3bn in colorectal cancer.

30th September 2008

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