Provalis signs vaccine option agreement with Chiron Vaccines

Provalis, the UK-based medical diagnostics and pharmaceuticals group, has signed an option agreement with Chiron Vaccines.

Under the terms of the agreement Chiron Vaccines is granted an initial 12-month, exclusive option (extendable by a further 12 months on payment of a fee) to evaluate Provalis's protein-based vaccine candidates to prevent Group B Streptococcus infection.

Chiron Vaccines has paid an initial option fee to Provalis and will pay all costs connected with the patents underpinning these vaccine candidates. It also has the right to enter into an exclusive licence for, or to acquire, these vaccine candidates, in both cases on pre-determined terms.

'We announced in 2002 that we would focus all of our resources on our medical diagnostics and pharmaceuticals businesses, and would seek partners to continue the development of our vaccine development programmes,' said Phil Gould, ceo of Provalis. 'We are, therefore, delighted to have reached this agreement with a worldwide player in vaccine development such as Chiron Vaccines.'