|
The Board of Henderson Morley
plc, the AIM listed drug discovery company, announces that it has signed a
sponsored development and option agreement with Schering-Plough Limited
(“Schering”) regarding the Grant of a Licence Agreement for the intellectual
property of its Koi Carp herpes vaccine.
HIGHLIGHTS
- Option granted for Schering to take an exclusive
worldwide licence to commercially exploit vaccine candidates produced by
Henderson Morley;
- Schering will pay undisclosed payments towards
the development of the vaccine over a 15 month period;
- If the Licence is granted it will be for an minimum
term of 10 years;
- Royalty payments will be based on Net Sales
Revenue received by Schering; and
- The Licence will include the right for Schering
to sub-licence to third parties.
The sponsored development and
option agreement is a precursor to the Grant of a Licence Agreement for the
intellectual property rights of Henderson Morley’s Koi Carp herpes vaccine. The
Licence will be worldwide and Schering has agreed to pay towards the
development costs of the vaccine while the option agreement is in place.
Schering-Plough Limited
trades as Schering-Plough Animal Health. It
is a subsidiary of NYSE listed Schering-Plough, which is a global science-based health care company with leading
prescription, consumer and animal health products.
Executive
Chairman Andrew Knight said: “We are
delighted to have signed this agreement with Schering. This will help us to
further develop our vaccine and we look forward to working closely with a
leader in the animal health arena.” |
