KVISTGAARD, Denmark - Bavarian Nordic A/S (OMX: BAVA) announced today that it has signed a contract with the military of an undisclosed EU country for the delivery of a small order for IMVAMUNE(R). The vaccines will be delivered in 2009. The size and value of the contract is undisclosed.
This marks the first time Bavarian Nordic enters a contract with an EU country for the delivery of IMVAMUNE(R), and it demonstrates that there exists a real demand inside of EU for new and safer smallpox vaccines for preparedness stockpiles.
This contract does not affect the company’s expectations for the 2009 full year results.
Anders Hedegaard, President & CEO of Bavarian Nordic said: “Entering the first contract with an EU country on IMVAMUNE(R) demonstrates the need for new and safer smallpox vaccines. We have a continued ongoing positive dialogue with governments in and outside the EU, and we expect that this will lead to several smaller contracts. When we expectedly receive the approval from the US authorities to initiate the delivery of IMVAMUNE(R) under the RFP-3 contract for 20 million doses, this will be an important message to other governments currently considering to stockpile IMVAMUNE(R).”
Forward-looking statements
This announcement includes “forward-looking statements” that involve risks, uncertainties and other factors, many of which are outside of our control that could cause actual results to differ materially from the results discussed in the forward-looking statements. Forward-looking statements include statements concerning our plans, objectives, goals, future events, performance and/or other information that is not historical information. We undertake no obligation to publicly update or revise forward-looking statements to reflect subsequent events or circumstances after the date made, except as required by law.
About Bavarian Nordic
Bavarian Nordic A/S is a leading industrial biotechnology company developing and producing novel vaccines for the treatment and prevention of life-threatening diseases with a large unmet medical need. The company’s pipeline is focused in the three areas; biodefence, cancer and infectious diseases, and includes seven development programmes. Two programmes are ready for Phase III: IMVAMUNE(R), a third-generation smallpox vaccine is being developed under a contract with the US government, and PROSTVAC(TM), a therapeutic vaccine for advanced prostate cancer is being developed under a collaboration agreement with the National Cancer Institute.
Bavarian Nordic is listed on NASDAQ OMX Copenhagen under the symbol BAVA.
For more information please visit www.bavarian-nordic.com
Source: Bavarian Nordic A/S
Contact (media only): Anders Hedegaard, President & CEO, Bavarian Nordic, +45-23-20-30-64
Related Press Releases
New and Interesting PROSTVAC(TM) Data Indicate Broad Therapeutic Use in Metastatic Prostate CancerSeptember 21st, 2009 KVISTGAARD, Denmark - Bavarian Nordic A/S (OMX: BAVA) yesterday presented further detailed PROSTVAC(TM) data at the European Cancer Organisation (ECCO), ECCO 15 - 34th ESMO Congress in Berlin, Germany. Further data from a Phase II double-blind, prospective randomized placebo-controlled study of 125 patients with metastatic prostate cancer was presented by Dr.
Bavarian Nordic A/S - Half Year Interim Report 2009August 27th, 2009 KVISTGAARD, Denmark - Today Bavarian Nordic published the company's half-year interim report 2009. The full financial statements are available on the company's website: www.bavarian-nordic.com.
Bavarian Nordic in Negotiations With the US Authorities for the Further Development of IMVAMUNE(R)August 23rd, 2009 KVISTGAARD, Denmark - Bavarian Nordic A/S (OMX: BAVA) announced today that the US authorities have initiated negotiations for a new contract to develop a freeze-dried version of the IMVAMUNE(R) smallpox vaccine. This potential new project will have no influence on the ongoing RFP-3 BARDA (Biomedical Advanced Research and Development Authority) contract for the procurement of 20 million doses of IMVAMUNE(R) and the licensure of the current liquid-frozen formulation, but represents an additional business opportunity.
NetDespatch Web Software Provides Global Service for Nordic ParcelJuly 7th, 2009 MARLOW, England - NetDespatch has helped Nordic Parcel get its global parcels business off to a flying start. Through its innovative web software, NetDespatch is saving the company the high cost of implementing in-house based logistics systems.
New Review on PROSTVAC(TM) Published by Key Investigators From NCIJune 30th, 2009 KVISTGAARD, Denmark - A just published Review in the publication "Expert Opinion on Investigational Drugs", Volume 18, Issue 7 2009, confirms the previous published information on PROSTVAC(TM). This is the most comprehensive and updated Review on PROSTVAC(TM) so far.
PROSTVAC(TM) Data Presented at the ASCO Meeting Demonstrates the Potential for Significant Increases in Life Expectancy in Late-Stage Prostate CancerMay 31st, 2009 KVISTGAARD, Denmark - Detailed data from a randomized Phase 2 study with PROSTVAC(TM) were presented Saturday at the ASCO Annual Meeting in Orlando. The presentation was made by Philip Kantoff MD, Professor of Medicine, Harvard Medical School, and the Dana-Farber Cancer Institute who is also the principal investigator of the study.
Invitation: PROSTVAC(TM) Wrap upMay 26th, 2009 KVISTGAARD, Denmark - Following the presentation of data with PROSTVAC(TM) - a promising, late-stage vaccine candidate for the treatment of advanced prostate cancer, Bavarian Nordic will be hosting a Q&A session at the ASCO Annual Meeting. Time: Sunday, May 31st 2009 from 09 AM EDT to 10 AM EDT.
The Court Supports Bavarian Nordic's Decision to Start Patent Infringement Case Against Oxford BioMedicaMay 8th, 2009 KVISTGARD, Denmark - Oxford Biomedica's second attempt to dismiss Bavarian Nordic's patent infringement suit in the United States has failed. Instead of denying infringement, Oxford Biomedica made yet another attempt to dismiss the suit arguing that it was premature because TroVax(R) was still evaluated in clinical trials.
Bavarian Nordic Announces its Interim Report for the Period 1 January to 31 March 2009April 27th, 2009 KVISTGAARD, Denmark - Yesterday Bavarian Nordic Announced its Interim Results for the First Quarter of 2009
- Positive Developments in the Biodefence and Cancer Business Areas
- End of Phase II Meeting Lays Down Pathway for the Licensure of IMVAMUNE(R)
- Preparations for the Delivery of IMVAMUNE(R) to the USA are Progressing According to Plan
- PROSTVAC(TM) Data Have Been Accepted for an Oral Presentation at the ASCO Annual Meeting
In the first quarter of 2009 Bavarian Nordic generated revenue of DKK 17 million and recorded a loss before tax of DKK 83 million. The expectations for the financial result for the full year 2009 are maintained at revenues in the region of DKK 375 million, and a pre-tax loss in the region of DKK 225 million.
Bavarian Nordic Publishes its Annual Results 2008March 26th, 2009 KVISTGAARD, Denmark - Today Bavarian Nordic published the company's Annual Report 2008. The
report is available on the company's website: www.bavarian-nordid.com.
Related News
Nordic countries agree to $2.5 billion long-term loan for crisis-hit IcelandJuly 1st, 2009 Nordic countries come to Iceland's rescueLONDON — Denmark, Finland, Sweden and Norway signed loan agreements with Iceland on Wednesday that will provide the struggling nation with $2.5 billion (euro1.8 billion) over the long term. Iceland's central bank, Sedlabanki, said the money will be used to strengthen the country's foreign exchange reserves.
Missile deal with Russia on track, says IranApril 16th, 2009 MOSCOW - There are no obstacles to the delivery of Russian S-300 surface-to-air missile systems to Tehran, Iran's deputy foreign minister has said. 'There are no problems with this (S-300) contract,' Mehdi Safari said Wednesday at the end of his visit to Moscow.
Finland calls for joint Nordic membership in G-20, more say in international affairsMay 14th, 2009 Finland calls for Nordic membership in G-20HELSINKI — The five Nordic countries should have more say in international affairs, including a joint seat in the Group of 20, Finnish Prime Minister Matti Vanhanen said Thursday. Vanhanen said the Nordic region — Finland, Sweden, Norway, Denmark and Iceland — deserves representation in the group of major economies "because our joint economic weight is quite significant on an international scale."
Sweden, Finland and Denmark are represented at G-20 summits by the European Union, while Iceland and Norway are not EU members.
Painting lost in World War II makes fleeting TV appearanceSeptember 2nd, 2009 MUNICH - Bavarian detectives are looking for the owner of a painting stolen at the end of World War II, after the item worth an estimated 100,000 euros ($142,000) appeared on a TV show, police officers said. The painting by artist Frans Francken the Younger, titled "The Sermon on the Mount" (St Paul in Lystria), was shown on Bavarian state television last November, during a programme which assesses the value of antique items found in viewer's homes.
Russian firm may sign nuclear fuel deal with IndiaFebruary 7th, 2009 MOSCOW - Russian nuclear fuel producer TVEL expects to sign a $780 million contract for fuel supplies to Indian nuclear power plants, a spokesman for Russia's state nuclear power corporation Rosatom has said. The contract, if signed, could make Russia the first country to supply nuclear fuel to India since the Nuclear Suppliers Group lifted a three-decade ban on nuclear fuel sales to the country on Sept 6, 2008.
India, Israel ink $1.4 bn anti-missile system dealMarch 27th, 2009 NEW DELHI - India has signed a $1.4 billion deal with Israel for the supply of an anti-missile air defence system in what is the biggest defence deal between the two countries. Under the deal signed Feb 27, Israel will develop and manufacture seaborne and shore-based systems against missile attacks on India, Israeli business daily Globes said.
UPS extends logistics contract with FordJune 30th, 2009 UPS extends contract with FordATLANTA — UPS Inc. said Tuesday it has extended its contract with Ford Motor Co.
Iceland says IMF postpones action on $2.1 billion loan and release of Nordic fundsJuly 31st, 2009 Iceland says IMF postpones action on $2.1 bln loanREYKJAVIK, Iceland — Iceland's government said Friday that the International Monetary Fund has postponed a decision on releasing additional funds for the nation's economic recovery program. Iceland was hoping for a decision before the IMF executive board begins a two-week vacation on Aug.
Russia to deliver 22 Mi-171 helicopters to IraqMarch 31st, 2009 IRKUTSK - Russia is to supply Iraq with 22 Mi-171 Hip transport helicopters, a spokesman for the Helicopters of Russia holding company said Tuesday. The contract was signed between Airfreight Aviation Ltd.
Ukraine okays international gas observersJanuary 10th, 2009 MOSCOW/KIEV - Ukraine joined Russia to approve a European Union (EU) initiative for international observers to monitor Russian gas deliveries via Ukraine, raising hopes of a possible end to a Kremlin embargo on energy supplies to Europe. Ukrainian Prime Minister Yulia Tymoshenko signed the deal early Sunday, Interfax news agency reported.
