Kvistgaard, Denmark, August 31, 2009 - Bavarian Nordic A/S (OMX:
BAVA) announced today that it has been notified by the ICC
International Court of Arbitration that a request for arbitration has
been received from Helmholtz Zentrum München, Deutsches
Forschungszentrum für Gesundheit und Umwelt GmbH (formerly also known
as GSF).
The arbitration request is based on two old agreements with Bavarian
Nordic from 1994 and 1997 regarding a collaboration on certain
recombinant vaccines, which was formally terminated in 2001. The
agreements do not encompass the MVA-BN® patents but provide Bavarian
Nordic with exclusive royalty bearing license to specific patents on
recombinant vaccines and include clauses dealing with transfer of
know how pertaining thereto. Nevertheless, Helmholtz Zentrum München
now in 2009 claims rights to royalties on Bavarian Nordic's MVA-BN®
based vaccines, including IMVAMUNE®.
Anders Hedegaard, President & CEO of Bavarian Nordic said: "We view
this claim based on the old agreements as being baseless and without
merit. We are confident that we will prevail should this claim
continue at the Court of Arbitration."
Asger Aamund
Chairman
Contact
Anders Hedegaard, President & CEO. Phone +45 23 20 30 64
