Coley amends vaccine licence agreement with GlaxoSmithKline

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Coley Pharmaceutical GroupLONDON (AFX) - Coley Pharmaceutical Group Inc said it has amended some of its exclusive licences with GlaxoSmithKline for the use of Coley''s VaxImmune vaccine in the development of vaccines for infectious diseases.

This means that the US company can enter into non-exclusive VaxImmune agreements with other vaccine developers, but will see it taking a 17.4 mln usd reduction in potential milestone payments.

The amendments do not affect the GSK''s agreement with Coley on the use of VaxImmune in the development of cancer vaccines.

source - AFX