IAVI collaboration update (2839E)

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RNS Number : 2839E

Lipoxen PLC

05 April 2011

5 April 2011

Lipoxen plc

('Lipoxen' or the 'Company')

IAVI collaboration update

Lipoxen (AIM: LPX.L), a bio-pharmaceutical company specialising in the development of high-value differentiated biological, vaccines and siRNA delivery, announces that is has agreed an extension of the existing research agreement with the International Aids Vaccine Initiative (IAVI), the world's leading AIDS vaccine organization.

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.

Commenting on the extension, M. Scott Maguire, Chief Executive Officer of Lipoxen, 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."

For further information, please contact:

 
 Lipoxen plc                                       [phone] 
 M. Scott Maguire, Chief Executive 
  Officer 
 
 Singer Capital Markets (nominated 
  adviser)                                         [phone] 
 Jeff Keating / Claes Spang 
 
 Walbrook PR Ltd                                   [phone] 
 Paul McManus (Media Enquiries)                     Mob: [phone] 
                                           [e-mail] 
 Paul Cornelius (Investor Enquiries)                Mob: [phone] 
                                         [e-mail] 
 

About Lipoxen

Lipoxen plc is a biopharmaceutical company focused on the development of new and improved biologic drugs and vaccines. Lipoxen has three proprietary patented technology platforms:

1) PolyXen - for extending the efficacy and half life of biologic drugs

2) ImuXen - for creating new vaccines and improving existing vaccines

3) SiRNAblate - for the delivery of siRNA

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.

The Company has a low-risk business model and out-licenses its proprietary technologies to biopharmaceutical companies that have strong manufacturing and marketing capabilities. Lipoxen currently has commercial agreements with some of the world's leading biotechnology and pharmaceutical companies including Baxter, Schering-Plough, the Serum Institute of India Limited, Genentech, and Genzyme. Furthermore, Baxter, the Company's third largest shareholder, and management led the GBP2.9 million fundraising that the Company announced in May 2009. This fundraising was followed up by a GBP1.2 million placing in April 2010 which was led by the Company's management team.

Lipoxen, which was founded in 1997, trades on the AIM Market of the London Stock Exchange under the ticker symbol LPX. More information can be found at the Company's website: www.lipoxen.com.

This information is provided by RNS

The company news service from the London Stock Exchange

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