TLV, Emergent BioSolutions form joint venture to develop broad spectrum pandemic flu vaccine

Temasek Life Science Ventures Pte Ltd (TLV) and Emergent BioSolutions Inc. (NYSE:EBS) today announced their agreement to form EPIC BIO Pte Ltd, a joint venture to develop, manufacture, and commercialize a multivalent, cross-protective human vaccine to protect against influenza caused by a broad range of circulating H5 influenza strains. The broad spectrum pandemic flu vaccine is expected to be based on multiple antigens held by TLV and to be delivered as a single vaccine using Emergent's MVAtor^TM vaccine delivery platform. Completion of this joint venture is expected in the next few weeks.

“We look forward to building EPIC BIO's presence by bringing important technology and highly specialized skills to Singapore as well as meeting a major public health need in the region”

The joint venture plans to initiate clinical manufacturing of the broad spectrum H5 vaccine candidate in 2011, with the clinical trial scheduled to begin in 2012. Some of the anticipated attributes and differentiating features of the broad spectrum pandemic vaccine candidate include:

• Incorporating three H5HA antigens from divergent H5 strains within a single candidate, including the Vietnam (VN) strain on which most other pandemic vaccines are based
• Cell culture based manufacturing that is not dependent on chicken eggs
• Enabling long term stability thus allowing for potential stockpiling of bulk vaccine

In addition to the H5 vaccine, the joint venture will develop monoclonal antibodies for the treatment of pandemic H5 influenza using TLV's monoclonal technology. It is anticipated that the monoclonal antibody candidate will offer broad protection against most circulating H5 influenza strains and will limit the ability of the virus to mutate and escape therapy.

"This joint venture will bring additional breadth and depth to Emergent's product pipeline that will enable us to further our company mission - to protect life," said Daniel J. Abdun-Nabi, president and chief operating officer of Emergent BioSolutions. "EPIC BIO's viability and success will be anchored on TLV's extensive experience in cutting-edge research combined with Emergent's core competencies in product development, manufacturing, and commercialization."

"We are pleased to form EPIC BIO with Emergent BioSolutions, an organization focused on biologics that have a positive impact on public health," said Peter Chia, chief executive officer of TLV. "The complementary strengths of our organizations will allow us to accelerate efforts to develop and commercialize much needed pandemic influenza vaccines and therapeutics."

Under the terms of the joint venture, both companies will contribute cash and intellectual property to the partnership. Emergent will have 60% ownership while TLV will hold 40% of the joint venture. EPIC BIO will be based in Singapore.

"We look forward to building EPIC BIO's presence by bringing important technology and highly specialized skills to Singapore as well as meeting a major public health need in the region," said Abdun-Nabi. "We anticipate manufacturing these life-saving products at Emergent's facility in Baltimore, Maryland. Additionally, we are excited about the opportunity to work closely with our Singaporean partners to explore alternate manufacturing sites in Singapore."