MEDIVIR TRANSFERS THE LICENSING RIGHTS OF MIV-160

Medivir AB (OMX Nordic: MVIR B) has succeeded in transferring the licensing agreement on the anti-HIV compound MIV-160 from Guangdong Lantai-Viewland Pharmaceutical Co. Ltd. to Beijing Mefuvir Medicinal Technology Co. Ltd, a subsidiary of one of China’s largest condom manufacturers. The company will develop MIV-160 for HIV prophylactic and therapeutic use.

MIV-160 belongs to the group of polymerase projects which are administered by its subsidiary Medivir HIV Franchise AB.

“The continuing HIV/AIDS epidemic calls for a wide use of condoms with extra safety. The annual consumption of condoms in China is 2.8 billion. MIV-160 effectively inactivates HIV when applied as an extra shield of protection on a condom. All this put together explains why we have chosen to let a dominant condom producer take on the development of MIV-160” says Prof. Bo Öberg, CEO of Medivir HIV Franchise AB.

“In the current situation while China faces a potential HIV epidemic, we see tremendous opportunities in developing MIV-160 for condom coating, as a vaginal microbicide and for therapeutic application” comments Zhang Wenyao, Chairman of the board, Tianjin Human-Care Latex Corporation and Beijing Mefuvir Medicinal Science Co. Ltd. and Dr. Wang Xuehai, Chairman of the board, Wuhan Humanwell Hi-Tech Industry Co. Ltd.

The royalty rates and other licensing conditions remain the same as with Medivir’s former partner, but Medivir returns the right to obtain 4% ownership in Guangdong Lantai-Viewland Pharmaceutical Co. Ltd. and instead receives an equivalent right to obtain a 5% ownership in Beijing Mefuvir Medicinal Technology Co. Ltd.

Beijing Mefuvir Medicinal Technology Co. Ltd is a subsidiary to Tianjin Human-Care Latex Corporation, one of the largest condom manufacturers in China. Beijing Mefuvir and Tianjin Human-Care Latex Corporation are part of the Wuhan Humanwell Hi-Tech Industry, traded on the Shanghai Stock Exchange.