News
November 7, 2005
Advaxis, Inc and Cobra Biomanufacturing PLC enter a Strategic Collaboration and Long-Term Vaccine Supply Agreement for Listeria Cancer Vaccines
Princeton NJ: Advaxis, Inc (OTCBB: ADXS), a developer of live cancer vaccines based upon modified, attenuated Listeria monocytogenes, today announced a new agreement with, the international manufacturer of biopharmaceuticals Cobra Biomanufacturing PLC (�Cobra�), under which Cobra will manufacture experimental and commercial supplies of Advaxis� Listeria cancer vaccines, beginning with Lovaxin C, Advaxis� therapeutic vaccine for the treatment of cervical and head and neck cancers that will be entering a phase I/II study in cervical cancer patients this year.
The new agreement supersedes a prior agreement and provides for mutual exclusivity, priority of supply, collaboration on regulatory issues, research and development of manufacturing processes that have already resulted in new intellectual property owned by Advaxis, and the long-term supply of live Listeria based vaccines on a discounted basis.
"In the past two years Advaxis and Cobra have undergone an intensive development process for Advaxis� first cancer vaccine Lovaxin C� said J Todd Derbin, Chief Executive Officer of Advaxis. �This new strategic agreement will expand the relationship in several areas, including other cancer vaccines, intellectual property and commercial supply. It is based on the successful business model we have developed with Cobra, and secures for Advaxis a strong and long term pharmaceutical manufacturing capabilities which will enable us to manufacture our cancer vaccines on a stable cost basis well into the future."
Cobra, with its world leading technologies and capabilities in the manufacture of DNA, viruses and proteins, is already using its expertise for the production of Lovaxin C for the Phase I/II clinical study in cervical cancer being undertaken by Advaxis.
David Thatcher, Chief Executive of Cobra Biomanufacturing, added: "We are delighted that Advaxis has decided to broaden the relationship with Cobra and make us an exclusive vaccine supplier not only for Lovaxin C, but also for its other Listeria cancer vaccines. We intend for this to be a long-term relationship, providing the Advaxis cancer vaccines from pre-clinical to commercial supply."
About Cobra
Cobra Biomanufacturing Plc is a leading international manufacturer of biopharmaceuticals to the life science industry. Founded in 1992, Cobra has leading capabilities in DNA, virus and protein contract manufacture. It was the first company to develop GMP (Good Manufacturing Practice) standard DNA manufacture in Europe, with specific expertise in the manufacture of novel medicines. A range of unique, patented technologies, the most advanced of which are ORT and UCOE, underpins this revenue generating business.
Cobra is listed on the Alternative Investment Market of the London Stock Exchange.
www.cobrabio.com
About Advaxis
Advaxis is based in Princeton, New Jersey. Advaxis focuses on commercializing the innovative vaccine technology developed by Dr. Yvonne Paterson in the Department of Microbiology at the University of Pennsylvania. Advaxis is developing therapeutic cancer vaccines that enhance the immune system�s cancer-fighting abilities. Advaxis, through its proprietary Listeria Monocytogenes based system, is utilizing two immunological mechanisms (Innate and Classical Immunity) to develop safer and more effective cancer vaccines. Advaxis is the exclusive licensee of a patented broadly enabling innate immunity platform technology, which is based on the usage of the attenuated bacteria Listeria Monocytogenes, that, when combined with classical antibody and cellular immune mechanisms, can elicit more effective anti-tumour responses. Advaxis� lead vaccine candidate, Lovaxin C, targets cervical and head and neck cancers. Further vaccines in development target breast, ovarian and lung cancers. Advaxis is presently in the pre-clinical stage of development with Lovaxin C and anticipates this vaccine will enter Phase I clinical trials in early 2005. The Listeria platform will also have applications in the fields of infectious disease and autoimmune disorders. This news release does not constitute an offer to sell or the solicitation of an offer to buy any security. The securities issued in the private placement have not been registered under the Securities Act of 1933, as amended, or applicable state securities laws and may not be offered or sold in the United States absent registration under the Securities Act of 1933, as amended, and applicable state securities laws or an applicable exemption from registration requirements. The Company has agreed to file a registration statement covering the resale of the securities issued in the private placement.
Forward-Looking Statements
Certain statements contained in this press release are forward-looking statements that involve risks and uncertainties. The statements contained herein that are not purely historical are forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements deal with the Company's current plans, intentions, beliefs and expectations and statements of future economic performance. Forward-looking statements involve known and unknown risks and uncertainties that may cause the Company's actual results in future periods to differ materially from what is currently anticipated. Factors that could cause or contribute to such differences include those discussed from time to time in reports filed by the Company with the Securities and Exchange Commission. The Company cannot guarantee its future results, levels of activity, performance or achievements.
Company Contact:
J. Todd Derbin
CEO & President
Advaxis, Inc.
212 Carnegie Center
Princeton, NJ 08540
derbin@advaxis.com
(609) 895-7150
Cobra Biopharmaceutical, PLC
David Thatcher, Chief Executive Officer
Tel: +44 (0) 1782 714 181
Buchanan Communications
Tim Anderson / Rebecca Skye Dietrich
Tel: +44 207 466 5000