DGAP-News: Neovacs S.A. / Key word(s): Joint Venture
Neovacs and Stellar Biotechnologies Announce Launch of Neostell, Joint
Venture to Manufacture Kinoids
19.07.2016 / 08:00
The issuer is solely responsible for the content of this announcement.
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PRESS RELEASE
Neovacs and Stellar Biotechnologies Announce Launch of Neostell, Joint
Venture to Manufacture Kinoids
Administrative Board and Management Team Appointed
Paris (France), Boston, MA (USA) and Port Hueneme, CA (USA), July 19, 2016
- NEOVACS (Alternext Paris: ALNEV) and STELLAR BIOTECHNOLOGIES Inc.
(Nasdaq: SBOT) today announced the start of their joint venture company,
Neostell SAS, with the holding of its first general assembly. At the
meeting, the bylaws for Neostell were approved and the Administrative Board
and management team were appointed.
The following executives were appointed to the Administrative Board:
Bernard Fanget, (Vice President Pharmaceutical Development, Neovacs); Frank
Oakes (CEO, Stellar Biotechnologies) and Miguel Sieler (CEO, Neovacs).
In addition, the management team will include Bernard Fanget as Chairman of
the Board of Directors and President and Olivier Dhellin as CEO. Both also
will remain in their current positions at Neovacs.
Mr Fanget and Mr Dhellin's experiences in the pharmaceutical industry are
essential assets to oversee and ensure the efficient launch of the joint
venture production company. Their first mission at Neostell will consist of
identifying and reserve trough an option agreement a site for the
manufacturing facility. However, major investment in the joint venture will
not occur until after the results of the Neovacs ongoing Phase IIb trial
with IFNa Kinoid in the treatment of lupus are known.
Neostell, with initial capital of 400,000 euros, will be based in the Paris
area and set up to manufacture all kinoids developed by Neovacs, starting
with IFNα-Kinoid, the company's most advanced product candidate. Neostell
also plans to manufacture and sell other KLH-based immunotherapy products
for third-party customers worldwide.
Bernard Fanget, Chairman and President of Neostell, said: "The Neostell
corporation will first focus on the production scale-up of Neovacs' IFNα-
Kinoid immunotherapy in anticipation of a Korean market launch, as well as
the planned Phase III trial for the treatment of lupus and the Phase IIa
study in dermatomyositis. My objectives as president are to make Neostell
operational, to effectively access the conjugated vaccines development
market and to ultimately make Neostell a profitable business."
"This joint venture demonstrates Stellar's commitment to ensuring that
immunotherapy developers like Neovacs have both ample capacity of high-
quality KLH as well as the infrastructure and expertise to manufacture
their KLH-based immunotherapies as they advance to market," said Frank
Oakes, President, CEO and Chairman of Stellar Biotechnologies, Inc. "With
the Neostell corporation in place and its leadership appointed, we look
forward to putting operational teams together to map out the next steps for
this growth initiative."
About Bernard Fanget, Chairman of Neostell
Bernard leads pharmaceutical development activities at Neovacs. He brings
more than 30 years of industrial experience in biologics pharmaceutical
development. Bernard was Corporate Vice President, Global Industrialization
at Sanofi Pasteur. He was previously Senior Vice President, Pharmaceutical
Development of Flamel Technologies.
About Olivier Dhellin, CEO of Neostell
Olivier has 9 years of experience in immunotherapy development and cell-
based vaccine manufacturing. He previously held positions at Anosys - a US/
French cell therapy biotech company - and conducted research activities for
7 years at Gustave Roussy Institute (molecular biology and genomics) and
Pasteur Institute, where he was a post-doctorate fellow in molecular
pharmacology. Prior to that, he spent 4 years as a resident in several
hospital departments (pediatrics, pharmacology and biochemistry). Olivier
holds a degree in pharmacy (Paris XI University, France) and a PhD in
virology (Pierre et Marie Curie University, France).
About Stellar Biotechnologies, Inc.
Stellar Biotechnologies, Inc. (Nasdaq: SBOT) is the leader in sustainable
manufacture of Keyhole Limpet Hemocyanin (KLH), an important immune-
stimulating protein used in wide-ranging therapeutic and diagnostic
markets. KLH is both an active pharmaceutical ingredient (API) in many new
immunotherapies (targeting cancer, immune disorders, Alzheimer's and
inflammatory diseases) as well as a finished product for measuring immune
status. Stellar Biotechnologies is unique in its proprietary methods,
facilities, and KLH technology. We are committed to meeting the growing
demand for commercial-scale supplies of GMP grade KLH, ensuring
environmentally sound KLH production, and developing KLH-based active
immunotherapies.
About Neovacs
Neovacs is a leading biotechnology company that has a proprietary active
immunotherapy technology platform (Kinoids) with applications in autoimmune
and inflammatory diseases and cancer. The goal of the Kinoid approach is to
enable patients to have access to safe, effective, long-lasting treatments
for these often life-long diseases. Neovacs is focusing its clinical
development efforts on IFNα-Kinoid, an immunotherapy being developed for
lupus and dermatomyositis. Neovacs also has several therapeutic vaccines in
preclinical development for the treatment of autoimmune diseases, cancer
and allergies. www.neovacs.fr
Contacts
NEOVACS - Corporate Communication & Investor Relations
Charlène Masson
+33 (0)1 53 10 93 14
cmasson@neovacs.com
Investor Relations / Financial Communications Germany - MC Services
Raimund Gabriel
+49-89-21-02-28-30
raimund.gabriel@mc-services.eu
Press / U.S. Inquiries - The Ruth Group
Lee Roth / Joseph Green
+1-646-536-7012 / 7013
lroth@theruthgroup.com / jgreen@theruthgroup.com
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19.07.2016 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
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Language: English
Company: Neovacs S.A.
3-5, Impasse Reille
75014 Paris
France
Phone: +33 (0)1 53 10 93 00
Fax: +33 (0)1 53 10 93 03
E-mail: www.neovacs.fr
Internet: info@neovacs.fr
ISIN: FR0004032746
WKN: A1CVKR
Listed: Regulated Unofficial Market in Stuttgart; Open Market in
Frankfurt
End of News DGAP News Service
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483475 19.07.2016
DGAP-News: Neovacs and Stellar Biotechnologies Announce Launch of Neostell, Joint Venture to Manufacture Kinoids
| Source: EQS Group AG