BASEL, Switzerland (AP) -- Swiss pharmaceutical giant Novartis AG said Monday it has licensed a potential vaccine for a type of herpes virus from U.S.-based company AlphaVax Inc.
Novartis said it is paying $20 million upfront to the North Carolina company to secure the right to a developmental vaccine for the cytomegalovirus, or CMV. It also said that AlphaVax will be eligible for milestone payments and royalties.
A virus of the herpes family, CMV can seriously harm patients with weakened immune systems such as newborns or those with AIDS or cancer.
(Copyright 2008 by The Associated Press. All Rights Reserved.)
To comment, the following rules must be followed:
Comments may be monitored for inappropriate content, but the station is under no legal obligation to do so.
If you believe a comment violates the above rules, please use the Flagging Tool to alert a Moderator.
Flagging does not guarantee removal.
Multiple violations may result in account suspension.
Decisions to suspend or unsuspend accounts are made by Station Moderators.
Links require admin approval before posting.
Questions may be sent to email@example.com. Please provide detailed information.