Medivir gets 3 MUSD with Chiron's decision to take the HIV antiviral MIV-150 to clinical trials

Medivir gets 3 MUSD with Chiron´s decision to take the HIV antiviral MIV-150 to clinical trials Medivir gets 3 MUSD as a milestone payment for its HIV antiviral MIV-150 following a decision by Chiron Corporation to initiate phase I clinical trials after clearance by the appropriate regulatory agency. Medivir outlicenced earlier this year the HIV antiviral substance MIV-150 to Chiron Corporation. The agreement gave Chiron Corp the exclusive rights to the global marketing and sales of the HIV drug MIV-150. Medivir received 5 MUSD on signing of the contract. The agreement could give Medivir a total of 35 MUSD upon reaching specified milestones, as well as royalties up to the year 2017. The above mentioned milestone payment of 3 MUSD was triggered on 30 June 1999. Huddinge 1 July 1999 Medivir AB (publ) For more information please contact: Anna Bernsten, Vice President Business Development and Investor Relations, Medivir AB, phone no +46-8-608 31 05, +46-709-369 069 or e-mail: anna.bernsten@medivir.se. For more information about Medivir: www.medivir.se Medivir is a research and development company which develops new and better substances for the treatment of infectious diseases. The subsidiary company CCS AB develops, manufactures and markets body-care products and pharmaceuticals. The Group consists of the parent company, Medivir AB, the CCS AB subsidiary and UK company CCS (UK) Ltd. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/07/01/19990701BIT00100/bit0001.doc http://www.bit.se/bitonline/1999/07/01/19990701BIT00100/bit0002.pdf