michaelisin4u
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Pfizer Animal Health assets purchased by Lilly
Posted on 09/03/2010 in Animal Health Supplier News
Pfizer Animal Health has agreed a deal which will see it transfer a number of its assets to fellow healthcare group Lilly.
The veterinary pharmaceutical company is selling the European rights to several vaccines, parasiticides and feed additives to Lilly's animal health division Elanco, as part of the terms of its recent acquisition of Wyeth.
As a result, Lilly will also take control of one of Pfizer Animal Health's manufacturing facilities in Sligo, Ireland, with all staff set to be offered positions at Lilly.
In return, Pfizer will receive an undisclosed upfront payment, with the closing of this transaction still subject to approval from the appropriate regulatory bodies.
Jeff Simmons, president of Elanco, welcomed the purchase, saying that Pfizer's product portfolio and facility represent "a natural fit for Elanco and positions us well for sustained growth".
Last week, Pfizer Animal Health licensed a vaccine enhancement and delivery developed by Immunovaccine in order to produce a new livestock treatment.
http://www.zenopa.com/news/19658302/Pfizer_Animal_Health_assets_purchased_by_Lilly
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End goal: to make a difference for mankind
Published Saturday March 6th, 2010
Biotech: Halifax firm taking its cancer vaccine into first phase of human clinical trials
HALIFAX - It's a small Maritime startup, but one with a lofty goal.
"Not everyone can say they're working to cure cancer," says Brian Lowe, vice-president and co-founder of Immunovaccine Inc. (TSX-V:IMV), a Halifax biotechnology company that feels it is on the verge of a major cancer-fighting breakthrough.
Such ambition reveals just how far the company has come from its early days at Dalhousie University, where researchers were battling far less sexy health quandaries, like how to curb the seal population.
Back then, the problem facing researchers was how to deliver a contraceptive vaccine to wildlife in just one dose - without the traditional need for a follow-up dose.
"They couldn't ask a seal to come back for a booster shot," says Lowe with a chuckle at the company's downtown Halifax headquarters, just a short hop from Immunovaccine's lab facilities.
That Dalhousie research eventually led to Immunovaccine's patented vaccine delivery system, DepoVax. The system essentially amplifies a vaccine's effectiveness, allowing it to stay in the body long enough for a single dose to take full effect. The result: no need for a booster shot.
But the leap from university lab to commercial success is not an easy one to make. That's where Lowe came in. Back in 1992, at the age of 38, Lowe sold three environmental companies and became a millionaire. An active investment angel, he knew how to secure capital and launch a company.
"Access to capital is extremely challenging in our region," said Lowe, who also serves as director of the First Angel Network, which helps fund Atlantic Canadian businesses. "I think we've been very shrewd and creative in funding this largely with angel capital."
Between March 2000 and September 2009, the firm raised $11 million from angels spanning from the Maritimes to the U.S. to Europe - including Gary Smith.
The retired pharmacist from Saint John was actually one of the first investors to jump aboard, back in late 2003. And Smith has continued to increase his stake in the company over the subsequent seven years.
According to Smith, the growing use of vaccines means there is an expanding market for Immunovaccine.
"There are endless applications if it's demonstrated that the technology is successful in humans. So I'll stay along for the ride," he said in a recent interview.
"It's a Maritime company and could have a significant impact on the region. If we become a leader in that kind of biotechnology, then it brings a lot of attention to us."
Incorporated in 2000, Immunovaccine quickly found success in licensing its vaccine delivery system in the animal health field, specifically for fighting infectious disease in livestock. For example, last Tuesday, Immunovaccine announced that Pfizer Animal Health will be using the company's technology in a third livestock vaccine.
But in 2006, a "major event" occurred. That's when the company used its own vaccine to completely eradicate cancerous tumours in mice - at a late stage when the mice would normally be put down.
"The tumour totally disappeared. Nobody has ever done that. Nobody in the world has had the success we had," Lowe said. "It appears as though we have the potential for a major breakthrough."
The results convinced company officials to move beyond the simple licensing of their vaccine delivery system. The decision was made to delve into human trials for Immunovaccine's own cancer vaccine.
In the coming months, Immunovaccine will take its therapeutic vaccine for ovarian, breast and prostate cancer into the first phase of human clinical trials.
The trials, to take place in the U.S., could launch the company into a lucrative industry.
Sarah Chiasson, an analyst with Halifax-based Beacon Securities Ltd., says the firm is well positioned for an early-stage company.
"Its technology has been used on animals for several years and has had positive results. Its pre-clinical testing has been positive and it has an experienced management team," she said. "I see a lot of potential in their technology."
The plan now for Immunovaccine, which went public last October and has more than 20 employees, is to get through its phase-1 human cancer trials. The cost of entering further trials is steep. So if phase-1 proves successful, the company could very well be gobbled up by a big pharmaceutical firm, Lowe said.
"The road in our sector is a very long one," said the 56-year-old. "The ideal situation would see us help cure cancer, and in the process, see our shareholders get a nice return on their investment.
"That's the end goal - to really make a difference for mankind. But only time will tell."
http://nbbusinessjournal.canadaeast.com/journal/article/975154
< Message edited by michaelisin4u -- 3/11/2010 7:51:15 AM >
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