Xenova/Oxxon Development and License Agreement

From the January 12, 2005 Oxxon Press Release:

"Oxxon Therapeutics, Inc. announced today that Oxxon has licensed exclusive worldwide rights to Xenova Group's plc (NASDAQ: XNVA and London Stock Exchange: XEN) DISC-HSV and DISC-GM-CSF vector platforms for use in developing products for certain major cancers and chronic infectious diseases. DISC-GM-CSF, used as a stand-alone product, has been tested in a number of oncology indications including a dose-ranging Phase I trial for melanoma.

The agreement covers exclusive use of DISC-HSV and DISC-GM-CSF for preventative as well as therapeutic products in select conditions and options to obtain rights to additional indications. The agreement includes the vectors' use both as part of priming and boosting regimens or as stand-alone products. Under the terms of the agreement, Xenova will receive a staged up-front fee, milestones and royalties on sales of products."

From Xenova's filing:

"In January 2005 we announced the signing of an exclusive licensing agreement with Oxxon Therapeutics Ltd (Oxxon) potentially worth up to (pound)44 million in up-front and milestone payments, in the event four products complete commercialization. Royalties will be paid on future sales of any products which might be derived from the DISC-HSV Vector platform. 27 The agreement provides Oxxon with the right to use the DISC-HSV Vector in a number of specified indications in the areas of oncology and infectious diseases. Oxxon also has the option to further, as yet unspecified, indications subject to payment of additional fees. The agreement includes global development, manufacturing and marketing rights to DISC-GM-CSF, an oncology product developed using the DISC-HSV Vector platform which has successfully completed a Phase I dose-escalating safety study. We retain the rights to the DISC-PRO vaccine program for the prophylaxis of herpes virus diseases."

The Xenova/Oxxon Development and License Agreement is available here.