Message #13 From:
NewsBot Date: December 22, 2005 12:00:00 PM
AVAN News New Congressional Defense Bill Supports Development and Purchase of Vaccines to Meet the Nation's Public Health Threats; AVANT Expects to Participate in the Development of New Vaccine Technologies to Meet These Threats
NEEDHAM, Mass.--(BUSINESS WIRE)--Dec. 22, 2005--AVANT Immunotherapeutics, Inc. (NASDAQ: AVAN) today announced that the new Congressional defense bill, which passed today and is expected to be signed by President Bush, will provide over $3 billion for the development and purchase of vaccines, antivirals and necessary medical equipment as well as for critical planning activities. The investment of these resources will aid biotechnology companies such as AVANT in the discovery, research and development of improved vaccines, new antivirals, diagnostics and other novel technologies for influenza and other public health threats.
"This legislation provides important funding for the development of new countermeasures and technologies and AVANT expects to actively seek financial support for new vaccines that will augment our nation's health security," said Una S. Ryan, Ph.D., President and Chief Executive Officer of AVANT Immunotherapeutics. "In addition, the legislation includes important provisions that will greatly reduce the risk of frivolous lawsuits and minimize litigation burdens, thereby encouraging biotechnology companies such as AVANT to enter the business of producing counter measures for an influenza pandemic. As a critical component of US public health preparedness, this legislation will help the US vaccine industry grow and diversify in terms of research and manufacturing."
About AVANT Immunotherapeutics, Inc.
AVANT Immunotherapeutics, Inc. discovers and develops innovative vaccines and therapeutics that harness the human immune system to prevent and treat disease. Six of AVANT's products are in clinical development, including a treatment to reduce complement-mediated tissue damage associated with cardiac bypass surgery and a novel vaccine for cholesterol management. AVANT is also developing a pipeline of bacteria-fighting products for biodefense, travelers' vaccines, and global health needs based on AVANT'S rapid-protecting, single-dose, oral and temperature stable vaccine technology.
Additional information on AVANT Immunotherapeutics, Inc. can be obtained through our site on the World Wide Web: http://www.avantimmune.com.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995:
This release includes forward-looking statements which reflect AVANT's current views with respect to future events and financial performance. These forward-looking statements are based on management's beliefs and assumptions and information currently available. The words "believe", "expect", "anticipate", "intend", "estimate", "project" and similar expressions which do not relate solely to historical matters identify forward-looking statements. Investors should be cautious in relying on forward-looking statements because they are subject to a variety of risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed in any such forward-looking statements. These factors include, but are not limited to: (1) the integration of multiple technologies and programs; (2) the ability to adapt AVANT's vectoring systems to develop new, safe and effective orally administered vaccines against anthrax and plague or other bioterrorism threats or emerging health care threats; (3) the ability to successfully complete development and commercialization of TP10, CETi-1, CholeraGarde(R) (Peru-15), Ty800 and other products; (4) the cost, timing, scope and results of ongoing safety and efficacy trials of TP10, CETi-1, CholeraGarde(R) (Peru-15), Ty800 and other preclinical and clinical testing; (5) the ability to successfully complete product research and further development, including animal, pre-clinical and clinical studies of TP10, CETi-1, CholeraGarde(R) (Peru-15), Ty800 and other products; (6) the ability of the Company to manage multiple late stage clinical trials for a variety of product candidates; (7) the volume and profitability of product sales of Megan(R)Vac 1, Megan(R)Egg and other future products; (8) the process of obtaining regulatory approval for the sale of Rotarix (R) in major commercial markets, as well as the timing and success of worldwide commercialization of Rotarix (R) by our partner, GlaxoSmithKline; (9) changes in existing and potential relationships with corporate collaborators; (10) the availability, cost, delivery and quality of clinical and commercial grade materials supplied by contract manufacturers; (11) the timing, cost and uncertainty of obtaining regulatory approvals to use TP10, CETi-1, CholeraGarde(R) (Peru-15) and Ty800, among other purposes, for adults undergoing cardiac surgery, to raise serum HDL cholesterol levels and to protect travelers and people in endemic regions from diarrhea causing diseases, respectively; (12) the ability to obtain substantial additional funding; (13) the ability to develop and commercialize products before competitors; (14) the ability to retain certain members of management; and (15) other factors detailed from time to time in filings with the Securities and Exchange Commission. We expressly disclaim any responsibility to update forward-looking statements.
