Second firm shows interest in ICVT portfolio
UK biotechnology firm Henderson Morley has received a letter of intent (LOI), from an unnamed specialist therapeutic drug development company relating to the intellectual property rights (IPR) of its ICVT portfolio, specifically the recurrent respiratory papilloma (RRP) indication.
UK biotechnology firm Henderson Morley has received a letter of intent (LOI), from an unnamed specialist therapeutic drug development company relating to the intellectual property rights (IPR) of its ICVT portfolio, specifically the recurrent respiratory papilloma (RRP) indication.
The company says this LOI is in addition to one received last October.
Henderson Morley has submitted an orphan designation application to both the FDA and the EMEA, which if successful, will give the RRP application of ICVT, orphan status. This would allow regulatory and commercial advantages, such as market exclusivity, reduced application fees and availability of grants. Discussions to purchase the IPR regarding ICVT include, but are not limited to, the orphan indication.
Simultaneously, Henderson Morley continues to negotiate with other parties over the sale of ICVT applications. This includes a specialist pharmaceutical company based outside the EU, which indicated its interest in the human applications of ICVT in October 2009.
Henderson Morley has specifically excluded RRP, ophthalmic, and veterinarian applications of ICVT from these negotiations.
"The funds raised by the sale of ICVT will be used to bring the company's stated strategy of becoming a "pure play" vaccine company to fruition," said Henderson Morley executive chairman Andrew Knight.
However, the proposed sale of this IPR is subject to further negotiation and it is anticipated that a decision will be made within approximately 45 days.