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Norwood Abbey Takes Option to Acquire Platform Vaccine Technology - Influenza First Target

Posted on: Thursday, 19 January 2006, 18:00 CST

Norwood Abbey Ltd (ASX:NAL):

Key points:

-- Norwood Immunology takes option to acquire vaccine enhancement technology

-- Technology based upon the combination of an adjuvant with virosome

-- Technology achieves a significantly enhanced immune response

-- Pre-clinical immune response to influenza vaccines 150 times greater than traditional non-adjuvanted virosome delivery technology

-- Adjuvant technology for intra-nasal influenza vaccine in Phase 1 trials with large European partner

-- Partnering discussions underway re: use of technology for injectable influenza vaccine, pandemic influenza vaccine and respiratory syncytial virus vaccine

-- Potential commercial opportunities to address pandemic influenza and bio-terrorism threats

-- Limited financial exposure during option period

Norwood Abbey Ltd (ASX:NAL) advises that its subsidiary, Norwood Immunology Ltd (AIM:NIM), has negotiated an option to acquire the whole issued capital of Netherlands-based Bestewil Holding Limited, the 100% owner of Virosome Biologicals Group Limited (Virosome Biologicals).

Virosome Biologicals is developing and commercialising a proprietary platform enabling technology for vaccines. The technology - which is based upon the combination of an adjuvant with virosomes - achieves a significantly enhanced immune response to an antigen challenge. The adjuvant specifically interacts with Toll-like Receptors (TLRs).

Pre-clinical studies undertaken by Virosome Biologicals with their technology have shown an immune response to influenza (flu) vaccines up to 150 times greater than traditional non-adjuvanted virosome delivery technology.

Virosome Biologicals' technology is seen as highly complementary to Norwood Immunology's core technology for rejuvenation of the adult immune system and could be applicable to a wide range of vaccine applications.

The Virosome Biologicals' adjuvant technology for intra-nasal flu has already been licensed to a large European pharmaceutical group. A Phase I trial is currently nearing completion. This licence agreement anticipates further milestones and royalties payable to Virosome Biologicals. Unlike certain other nasal flu vaccines, this trial does not use live influenza virus.

Norwood Immunology sees very significant commercial potential for the "Adjuvanted Virosome Technology". In particular, there is significant opportunity to increase the number of commercial licensing arrangements, such as in the field of influenza and mass vaccination campaigns, where the possible emergence of pandemic strains of flu and the threat of bio-terrorism are major concerns at the present time.

In the case of pandemic influenza, the highly potent immune stimulatory ability of the Virosome Biologicals' technology is particularly important because vaccine material is likely to be in short supply. Lower unit doses could therefore be used for each patient treated.

Full details of the arrangement are set out in the attached release from Norwood Immunology, lodged with London's Alternative Investment market last night (Australian time).

Norwood Immunology's immediate financial exposure is limited to the monthly equity injections. Norwood Immunology maintains the right to exercise the option to acquire Virosome Biologicals at any time during the option period and the right to terminate the equity injections at any time.

Norwood Abbey Chairman, Peter Hansen comments: "We see this as an exciting prospect for Norwood Immunology Ltd (NIM). The arrangement entered into offers NIM a low-risk window into Virosome Biologicals for a limited financial commitment. The potential of this platform technology to improve the efficacy of many vaccines presents an interesting complementary activity for NIM's existing technology. Virosome Biologicals involvement in two influenza vaccine developments presents a timely opportunity for NIM".

To find out more about the Norwood group, visit www.norwoodabbey.com and www.norwoodimmunology.com

Source: Business Wire

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