Genome Therapeutics Enters Agreement to Transfer Streptococcus pneumoniae Patent Portfolio to Aventis
Aventis pays $3 million for certain intellectual property
12-Jan-2004
WALTHAM, Mass. -- Genome Therapeutics Corp. and Aventis have agreed to the sale of Genome Therapeutics' pending patent applications relating to the organism Streptococcus pneumoniae (S. pneumoniae) to Aventis Pasteur, the vaccines business of Aventis. In Exchange, Aventis Pasteur has made a $3 million cash payment to Genome Therapeutics.
"S. pneumoniae is one of the most frequent causes of respiratory tract infections today and has been shown, in many cases, to be resistant to the commonly used antibiotics. We are committed to leveraging the technologies available to us to develop a vaccine that is effective in preventing infections caused by this pathogen," stated Michel DeWilde, Executive Vice-President, Research and Development for Aventis Pasteur. "The acquisition of this intellectual property portfolio is a part of our strategy to develop prophylactic vaccines that address unmet medical needs."
The pending U.S. patent applications relate to key gene and protein sequences from the S. pneumoniae genome. Genome Therapeutics will assign the portfolio to Aventis Pasteur and retain certain intellectual property rights that relate to its pathogen genetic sequence database and for its infectious diseases diagnostics development program.
"The transfer of this patent portfolio to Aventis Pasteur, the largest global vaccine developer, reflects our intellectual property strategy that focuses on securing an exclusive position on the genetic sequences and protein products of therapeutically-relevant organisms," stated Steven M. Rauscher, Chairman and Chief Executive Officer, Genome Therapeutics.
S. pneumoniae is the most common cause of bacterial pneumonia, responsible for approximately one quarter of all cases of community-acquired pneumonia each year in the U.S. The bacterium is also a leading cause of ear infections and meningitis. Strains of S. pneumoniae that are resistant to antibiotics have emerged and their prevalence continues to increase, creating a critical challenge for the medical community in the treatment of the many diseases caused by this bacterium.
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