Health & Fitness
Health and Fitness
Health and Fitness
Wed, January 14, 2009
Tue, January 13, 2009
Celldex Announces Sale of Poultry Vaccines Business to Lohmann
NEEDHAM, Mass.--([ BUSINESS WIRE ])--Celldex Therapeutics, Inc. (Nasdaq: CLDX) today announced that it has entered into an agreement to sell its poultry vaccines business to Lohmann Animal Health International (Lohmann). Since 2002, Lohmann has performed all manufacturing, marketing and distribution activities for Celldex's marketed Megan®Vac 1 and Megan®Egg poultry vaccines and has paid Celldex product royalties. Financial terms of the transaction were not disclosed.
"We continue to focus strategically on our Precision Targeted Immunotherapy Platform and the clinical and preclinical programs that are emerging from this novel approach to immunotherapy," stated Anthony S. Marucci, President and Chief Executive Officer of Celldex Therapeutics, Inc. "As a result of our focus on human health care, we are pleased to have found an appropriate home for these assets with Lohmann, a leader in the poultry industry in North America, with an extensive product line of vaccines and related products."
"We are excited to have completed this transaction with Celldex Therapeutics," said David Zacek, President and Chief Executive Officer of Lohmann Animal Health International. "Megan®Vac 1 and Megan®Egg will remain important vaccines within our growing poultry products business. Lohmann is committed to building a powerful force in the avian health industry."
About Celldex Therapeutics, Inc.
Celldex Therapeutics is an integrated biopharmaceutical company that applies its comprehensive Precision Targeted Immunotherapy Platform to generate a pipeline of candidates to treat cancer and other difficult-to-treat diseases. Celldex's immunotherapy platform includes a complementary portfolio of monoclonal antibodies, antibody-targeted vaccines and immunomodulators to create novel disease-specific drug candidates. For more information, please visit [ http://www.celldextherapeutics.com ].
About Lohmann Animal Health International
Lohmann is a leading manufacturer and supplier of poultry biologics for the U.S. and international vaccine markets. Based in Winslow, Maine, Lohmann is a member of the PHW Group, which comprises 40 companies that produce poultry health products for the global market. For more information, contact Lohmann at (800) 655-1342 or visit the company's website at [ www.lahinternational.com ].
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995:This release contains ''forward-looking statements'' made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including those related to the Company's strategic focus and the future development of the poultry business. Forward-looking statements reflect management's current knowledge, assumptions, judgment and expectations regarding future performance or events. Although management believes that the expectations reflected in such statements are reasonable, they give no assurance that such expectations will prove to be correct and you should be aware that actual results could differ materially from those contained in the forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties, including, but not limited to, the successful integration of the businesses, multiple technologies and programs of the two companies (Celldex and AVANT) that merged together in 2008 to form our Company; our ability to adapt APC Targeting TechnologyTM to develop new, safe and effective vaccines against oncology and infectious disease indications; our ability to successfully complete product research and further development of our programs; the uncertainties inherent in clinical testing; our ability to manage research and development efforts for multiple products at varying stages of development; Pfizer's and our strategy and business plans concerning the continued development and commercialization of CDX-110; the timing, cost and uncertainty of obtaining regulatory approvals; the failure of the market for the Company's programs to continue to develop; the inability to obtain additional capital; the inability to protect the Company's intellectual property; the loss of any executive officers or key personnel or consultants; competition; changes in the regulatory landscape or the imposition of regulations that affect the Company's products; and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission, including the Company's Form 10-K for the fiscal year ended December 31, 2007, and its Forms 10-Q and 8-K.
