Message #19 From:
NewsBot Date: October 2, 2006 05:00:00 AM
AVAN News Fiscal 2007 Defense Appropriations Bill Dedicates $2.6 Million to Ongoing Development of AVANT's Oral Anthrax/Plague Combination Vaccine
NEEDHAM, Mass.--(BUSINESS WIRE)--AVANT Immunotherapeutics, Inc. (Nasdaq: AVAN) today announced that the
Defense Appropriations Bill for Fiscal Year 2007 passed by Congress last
week provides $2.6 million for the Defense Department’s
continued development of an oral combination vaccine to protect against
anthrax and plague, a project being carried out by AVANT. The dedicated
funding supports continued development of this advanced technology
vaccine begun by AVANT in January 2003. This financial support will help
fund the research and clinical development phase of this combination
vaccine, being carried out at AVANT’s research
facility in Overland, Missouri, as well as vaccine production at AVANT’s
Fall River, Massachusetts facility.
Una Ryan, Ph.D., President and Chief Executive Officer of AVANT, stated, “The
AVANT combination anthrax-plague vaccine is the most technologically
advanced biodefense vaccine under development with federal government
support. It also offers unique advantages compared to other vaccine
approaches should a mass vaccination program become necessary. Unlike
currently available or next generation injectable vaccines, which
require multiple doses and take weeks or months to confer protection,
AVANT’s oral anthrax-plague vaccine is
designed to quickly confer protection with a single oral dose. Moreover,
the thermostability of AVANT’s vaccines may
make shipping, storage and distribution much easier.”
Dr. Ryan continued, “We want to thank the
Congress, and in particular Senator Kit Bond, Senator Ted Kennedy,
Senator Jim Talent, and Rep. Marty Meehan for their hard work in
supporting this vital program. The successful development and use of
this vaccine should make all Americans, both military personnel and
civilians, safer from the threats posed by anthrax and plague.”
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. Five 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 preventative vaccines for biodefense, travelers’,
military, 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
that are subject to a variety of risks and uncertainties and reflect
AVANT’s current views with respect to future
events and financial performance.There are a umber of important
factors that could cause the actual results to differ materially from
those expressed in any forward-looking statement made by AVANT.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 any other microbes used as
bioweapons and other disease causing agents; (3) the ability to
successfully complete development and commercialization of TP10, CETi-1,
CholeraGarde® (Peru-15), Ty800 and other
products; (4) the cost, timing, scope and results of ongoing safety and
efficacy trials of TP10, CETi-1, CholeraGarde®
(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® (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®Vac
1, Megan®Egg and other future products; (8)
the process of obtaining regulatory approval for the sale of Rotarix®
in major commercial markets, as well as the timing and success of
worldwide commercialization of Rotarix® by
our partner, Glaxo; (9) Glaxo’s strategy and
business plans to launch and supply Rotarix®
worldwide, including in the U.S. and other major markets; (10) changes
in existing and potential relationships with corporate collaborators;
(11) the availability, cost, delivery and quality of clinical and
commercial grade materials supplied by contract manufacturers; (12) the
timing, cost and uncertainty of obtaining regulatory approvals to use
TP10, CETi-1, CholeraGarde® (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; (13)
the ability to obtain substantial additional funding; (14) the ability
to develop and commercialize products before competitors and that are
superior to the alternatives developed by competitors; (15) the ability
to retain certain members of management;(16) AVANT’s
expectations regarding research and development expenses and general and
administrative expenses; (17) DVC’s ability
to complete clinical trials and perform under its agreement; (18) AVANT’s
expectations regarding CETP’s ability to
improve cholesterol levels and AVANT’s
ability to develop and commercialize CETP; (19) AVANT’s
expectations regarding cash balances, anticipated royalty payments and
expenses, including infrastructure expenses; and (20) other factors
detailed from time to time in filings with the Securities and Exchange
Commission.You should carefully review all of these factors, and
you should be aware that there may be other factors that could cause
these differences.These forward-looking statements were based on
information, plans and estimates at the date of this report, and we do
not promise to update any forward-looking statements to reflect changes
in underlying assumptions or factors, new information, future events or
other changes.
