Vaccines Technologies, Celldex ink deal

Boston-based Vaccine Technologies (VTI) has inked a license and development agreement with Celldex Therapeutics. VTI will have exclusive licensing rights to Celldex's CholeraGarde and ETEC vaccine programs. The deal includes upront fees, milestone payments and worldwide royalties on net sales. Further financial details were not disclosed.

VTI will continue to develop CholeraGarde and ETEC in conjunction with Celldex's current partners, the International Vaccine Institute and the National Institute of Allergy and Infectious Diseases. CholeraGarde is currently in Phase II studies in Bangladesh under IVI, with plans underway to commence additional studies in India and Thailand this year. NIAID is currently conducting a Phase I study on ETEC for enterotoxigenic E.coli and cholera at the Cincinnati Children's Hospital Medical Center

"VTI has several initiatives underway including vaccines targeting hepatitis and influenza," Dr. Yichen Lu, President and CEO of VTI said in a statement. "Licensing of the CholeraGarde and ETEC vaccine programs is complementary and consistent with our goal to be a highly competitive vaccine research and development center and manufacturer."

- read the joint release