Business Wire - Wednesday April 14, 1999
This technology is owned by the University of Birmingham, UK, under HIV vaccine patents covering Europe, Canada, Japan, Australia, and a DNA vaccine patent in the USA. Worldwide rights to this technology were granted to Intracell Vaccines Limited under a license agreement in November, 1998. The terms of the agreement include the payment of royalties to The University of Birmingham equal to between 3 and 5 percent of sales, or a minimum royalty of approximately $80,000 per annum after January 1, 2002. As a condition of the assignment, HIV-VAC, Inc. is committed to raise a maximum of $1.5 million for the funding of research within the next 60 days.
The HIV vaccine was originally developed by Dr. Gordon Skinner, ND, DSc FRCPath, FRCOG at the University of Birmingham, UK. It has been under development by Dr. Skinner for the last 10 years and is nearing the completion of toxicity trials prior to commencing phase 1 and 2 trials.
This intracellular vaccine is a new development based on tried and tested methods and has the potential for protection and therapeutic efficacy by stimulating a better immune response than single component vaccines, but without the risks inherent in live vaccines. The Intracellular vaccine differs from other vaccines currently in clinical trials because it contains a wide representation of virus proteins in their natural configuration but does not contain virus particles. It is also easily adapted to different virus strains and is likely to provide protection to a wide spectrum of HIV virus strains. Dr. Gordon Skinner and Mr. Kevin Murray B Compt, CA(SA) have been appointed to the Board of Directors of HIV-VAC, Inc.
The statements contained in this release which are not historical facts contain forward-looking information with respect to plans, projections or future performance of the company; the occurrence of which involves certain risks and uncertainties that could cause the company's actual results to differ materially from expected results. Such risks include the timing of implementation and the scope and success of the program described here.
Contact: Greg Graff Investor Relations 888-338-3367
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