ExpreS2ion initiates collaboration on in vitro diagnostic products with Institut Virion\Serion GmbH
Hørsholm, Denmark, December 4, 2017 – Today, ExpreS2ion Biotech Holding AB announces that the fully owned subsidiary ExpreS2ion Biotechnologies ApS (“ExpreS2ion”) has entered a collaboration with the Germany based Institut Virion\Serion GmbH (“Virion”). Virion is granted access to evaluate a number of new in vitro diagnostic product candidates, as well as commercial rights to promote, sell and distribute protein antigens produced using ExpreS2. The financial terms of the agreements are not disclosed, but ExpreS2ion expects to generate annual revenues in excess of 250,000 EUR as a result of these agreements, when the collaboration is implemented.
Material Transfer Agreement (MTA) and Research & Commercial License Agreement (RCLA)
The MTA grants Virion access to a number of nondisclosed protein antigens produced by ExpreS2ion. Under the MTA, Virion has the rights to evaluate such antigens in their laboratories with the purpose of making commercially available protein antigens. ExpreS2ion and Virion will discuss an agreement to ensure supply and commercialisation conditions of such antigens.
The RCLA grants Virion the research and commercial rights to develop and market proteins produced using the ExpreS2 technology. The RCLA stipulates an annual Research License Fee as well as two-digit percentage Royalty on Net Sales to be paid by Virion to ExpreS2ion.
Virion expects to expand their catalogue of immunological reagents with multiple protein antigens produced using ExpreS2. ExpreS2ion and Virion do not disclose the financial terms of the Agreements, which constitute a part of both companies’ general business models. However, ExpreS2ion expects to generate annual revenues in excess of 250,000 EUR as a result of these agreements, when the collaboration is fully implemented.
Institut Virion\Serion GmbH
1978 saw the founding of Institut Virion\Serion GmbH in the city of Würzburg in southern Germany. From the outset, the company has specialised in the manufacture of in vitro diagnostic products for the infectious disease serology and has, due to continual growth, twice expanded into new premises over the past 30 years. This family run business with its roots in Würzburg has remained in the region and currently provides employment and career opportunities for around 125 employees. Their product range offers a selection of analysis methodologies to aid the diagnosis of viral, bacterial, parasitic and fungal diseases. More information at the website www.virion-serion.de.
CEO Dr. Steen Klysner comments
“We are very pleased to have entered this broad collaboration in the expanding field of in vitro diagnostics. The Institut Virion\Serion GmbH is an established, strong, and growing player in this market, and we look forward to support their development with our competences, and the strength of our ExpreS2 platform”
Sedermera Fondkommission is appointed as Certified Adviser for ExpreS2ion.
For further information about ExpreS2ion Biotech Holding AB, please contact:
Dr. Steen Klysner, CEO
Telephone: +45 2062 9908
This press release contains information that ExpreS2ion is obligated to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact person set out above on December 4, 2017.
ExpreS2ion Biotechnologies ApS is a fully owned Danish subsidiary of ExpreS2ion Biotech Holding AB with company register number 559033-3729. ExpreS2ion’s unique proprietary platform technology, ExpreS2, is designed to enable accelerated, cost effective development and robust production of complex proteins for new vaccines and diagnostics. Since founded in 2010, more than 250 proteins involved in e.g. malaria and Zika were produced in collaborations with research institutions and companies with a superior efficiency and success rate. ExpreS2ion also develops competitive virus-like-particle based vaccines through its joint venture AdaptVac, which was founded in 2017.