Important note: Information in this article was accurate in 2008. The state of the art may have changed since the publication date.
Associated Press - December 29, 2008
Novartis said it is paying $20 million upfront to the North Carolina company to secure the right to a developmental vaccine for the cytomegalovirus, or CMV.
A virus of the herpes family, CMV can seriously harm patients with weakened immune systems such as newborns or those with AIDS or cancer. According to Novartis the virus infects about 86,000 newborns in the United States and European Union each year, causing 700 deaths and 17,500 cases of severe disability.
The vaccine is expected to enter phase II clinical trials next year, Novartis said.
If successful, it would be the first vaccine against CMV, the company said, adding that it has also secured an option to buy 4 million AlphaVax shares at the end of phase II clinical trials.
AlphaVax will also be eligible for milestone payments and royalties, Novartis said.
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