Xbrane re-negotiates pre-existing IP license agreement with Vaxiion Therapeutics
Xbrane Biopharma AB (publ) (“Xbrane Biopharma” or the “Company”) has re-negotiated a pre-existing license agreement of certain intellectual property rights, mainly patent US7871815B2, with Vaxiion Therapeutics. The re-negotiated license agreement gives Xbrane full non-exclusive rights to the mentioned IP and entitles Vaxiion to a low single digit million SEK upfront payment as well as low single digit royalties on sales income generated by Xbrane from pharmaceutical products produced leveraging the IP, through February 2024. After Feb 2024 Xbrane can continue to utilize the Vaxiion IP for all its products without any further royalty payments to Vaxiion. The Vaxiion IP is utilized by Xbrane as an important part of its unique platform technology to enhance the production yield and thereby lower production cost for select biosimilar candidates in its portfolio, including Xlucane.
“The re-negotiated license agreement with Vaxiion is important. It creates more favorable terms for Xbrane to utilize the Vaxiion IP which is an important part of the development of our biosimilar portfolio. Further, it is of particular importance given the recent advancements in development of Xlucane and planned filing of the Marketing Authorization Application in Europe and the US.” Says Martin Åmark, CEO Xbrane Biopharma
Xbrane is continuously strengthening the IP portfolio around its platform technology targeted at providing the highest production yields and lowest production costs of biologics in the industry. Xbrane currently have one approved patent and ten new pending patent applications filed only in 2020.
“Building an IP portfolio protecting our unique platform technology is going to be an increasingly significant part of our business as we accelerate a broader development portfolio of biosimilar candidates. The value lies in protecting our scientific inventions of how to reduce production costs for our own biosimilar portfolio and to be able to monetize directly on the IP portfolio via out-licensing of certain IP rights, as we have done historically with e.g. Oxford Nanopore.” Continues Martin Åmark, CEO Xbrane Biopharma