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CEO: No Interest in Selling Firm

IdeS-Hansa-Medical

Despite Bavarian Nordic’s recent successes forging deals with major companies and attractiveness to larger firms, there are no plans to sell the company,  says CEO Paul Chaplin in a FierceBiotech article.

“You can’t stop interest if there is interest, but it’s not our ambition to sell the company,”  Chaplin told Reuters. “Our end goal is not to sell to Big Pharma as a success. If that [success] leads to a takeover, it leads to a takeover, but that’s not our goal.”

While Bristol-Myers stands to get a share of  Bavarian Nordic’s  prostate cancer vaccine Prostvac  through an agreement, Bavarian Nordic is preparing CV-301 for Phase II trials without a partner in an attempt to gather the data that will gnerate major profits.   “We would like to keep that asset free from strings, so that if we do demonstrate its efficacy in three [cancer] indications, we have the freedom to license to whomever we want,” Chaplin said. A Phase II trial of the poxvirus-based immunotherapy in bladder cancer began last year, and another combining it with inhibitors is scheduled for 2016.

Source: FierceBiotech