Shares in Lipoxen PLC (LON:LPX) rose in early trade on news it has agreed an extension of the existing research agreement with the International Aids Vaccine Initiative (IAVI).
Based on data generated during the research phase of the original agreement, Lipoxen and IAVI have identified a vaccine formulation that, when used in a relevant preclinical model, induced antibodies which subsequently neutralised a number of different HIV strains when tested in the laboratory.
IAVI have extended the agreement which will now run until 30 September 2011. This will allow Lipoxen to create advanced versions of the candidate formulation and IAVI to undertake a repeat of the immunisation study to assess the efficacy of the refined vaccine.
Subject to the final results, Lipoxen and IAVI will jointly negotiate terms for the further development of any promising vaccine candidate, the group said.
Investors clearly liked the news, and Lipoxen stock was trading up more than 8 percent in morning deals at 13.2 pence.
Chief executive Scott Maguire said: “The extension is a positive step and reflects the good antibody responses to our formulations. With more than 7,100 people a day infected with HIV there is strong demand for safe and effective vaccines for HIV and we hope that the extension will help us and IAVI take a step closer to developing a refined vaccine formulation that meets this need."
Lipoxen is a biopharmaceutical company focused on the development of new and improved biologic drugs and vaccines. Lipoxen has three proprietary patented technology platforms: PolyXen - for extending the efficacy and half life of biologic drugs; ImuXen - for creating new vaccines and, improving existing vaccines; and SiRNAblate - for the delivery of siRNA, or silencing RNA.
Lipoxen's technology is designed to improve the efficacy, safety, stability, biological half-life and immunologic characteristics of its products.
Lipoxen has multiple drug and vaccine programmes in development. Two products are in clinical development, SuliXen, a long acting insulin and ErepoXen, a long-acting erythropoietin (EPO).
Lipoxen's preclinical pipeline includes vaccines against HIV, multiple sclerosis and influenza and an exclusive license deal with Baxter Healthcare for blood coagulation drugs.