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Article: PowderMed Launched in Spin Out of Powder Injection DNA Vaccine Programmes From Chiron Vaccines; PowderMed closes 20 million pounds sterling ($34.5 million; euro 30 million) financing and enhances deal with Glaxo SmithKline.
- Article from:
- PR Newswire
- Article date:
- May 17, 2004
CopyrightCOPYRIGHT 2004 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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OXFORD, England, May 17 /PRNewswire/ -- PowderMed Ltd (PowderMed), a new company focussing on the development of therapeutic DNA vaccines, was officially launched today. The Company has been created through a spin out of the powder injection DNA Vaccines technology from Chiron Vaccines, a business unit of Chiron Corporation , backed by 20 million pounds ($34.5 million; euro 30 million) in venture capital from a syndicate of leading life science investors. Simultaneous with launch, PowderMed has announced that it has enhanced a deal with GlaxoSmithKline (GSK) under which GSK will gain additional licences to the PowderJect(R) powder injection technology in the field of ...