ExpreS2ion and NextGen enter a Joint Venture for accelerated development of new, improved vaccines and immune therapy
Hørsholm, Denmark, June 21, 2017 – Today, ExpreS2ion Biotech Holding AB announces that the fully owned subsidiary ExpreS2ion Biotechnologies ApS (“ExpreS2ion”) has established a joint venture named AdaptVac ApS with NextGen Vaccines ApS (“NextGen”), a company recently formed by scientists from the University of Copenhagen. AdaptVac has a worldwide exclusive license to a new Plug-and-Play Virus Like Particle (VLP) technology, which enables accelerated development of efficient therapeutic and prophylactic vaccines within high value segments of oncology, infectious diseases and immunological disorders.
The aim of the Joint Venture is to create a world class unit for the development of highly competitive vaccines and therapeutics for infectious diseases, cancer, and immunological disorders. The combination of ExpreS2ion’s technology and competences with NextGen’s unique expertise in the novel Virus Like Particle (VLP) technology will make it a strong and versatile player in the field of new vaccines and immune therapy. AdaptVac will operate as a separate business unit constructed as a 50:50% ownership with costs and profits divided equal following initial investments. The conditions are to be finalised over a following three months period and beside intangible assets in the agreement the Joint Venture is expected to require an investment from ExpreS2ion in the order of 4-6 million SEK over the next three years. The board of ExpreS2ion Biotech Holding AB is currently evaluating different financing solutions for ExpreS2ion’s investment.
NextGen Vaccines Aps
The company was recently founded by a group of inventors of the VLP technology originating from the Centre for Medical Parasitology (CMP), a collaboration between the University of Copenhagen and Rigshospitalet (DK). The founding scientists are internationally acknowledged in the scientific community and has a solid track record from research to clinical development in the field of malaria and other infectious diseases.
CEO Dr. Steen Klysner comments
“It is a great pleasure to announce the initiation of the AdaptVac joint venture with the group of internationally renowned scientists in NextGen Vaccines. The combination of top academic and commercial competencies makes AdaptVac a strong platform for development of a competitive pipeline of high value products and with this Joint Venture we expect to create substantial value for the company and its shareholders”
Sedermera Fondkommission is appointed as Certified Adviser for ExpreS2ion.
For further information about ExpreS2ion Biotech Holding AB, please contact:
Dr. Steen Klysner, CEO
Telephone: +45 2062 9908
This press release contains information that ExpreS2ion is obligated to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact person set out above on June 21, 2017.
ExpreS2ion Biotechnologies ApS, is a fully owned Danish subsidiary of ExpreS2ion Biotech Holding AB with company register number 559033-3729. The subsidiary has developed a unique platform technology, ExpreS2, enabling cost effective development and robust production of complex proteins for new vaccines and diagnostics for e.g. Malaria and Zika. Since founded in 2010, the company has used its patented ExpreS2platform to produce more than 200 proteins in collaborations with research institutions and biopharmaceutical companies, with a superior efficiency and success rate.