Avantogen Limited and Hawaii Biotech, Inc., a privately held company have combined their respective vaccine businesses. The company will continue to be known as Hawaii Biotech, Inc., and is 50% owned each by Hawaii Biotech’s current shareholders and Avantogen Limited.
The combined business will incorporate both Avantogen’s and Hawaii Biotech’s complementary technologies, and will maintain the existing corporate headquarters and vaccine development laboratories in Oahu, Hawaii, as well as an office in California.
Under terms of the agreement, Avantogen contributed US $3.5 million in cash, its vaccine adjuvant program (currently in Phase I human trials) and Pentrys vaccine program (currently in Phase II human trials), and its senior management team, while Hawaii Biotech contributed its vaccine research and development team, its pre-clinical vaccine programs and facilities, its vaccine grant funding, and US $1 million in cash.
Hawaii Biotech’s vaccine development platform is based on production of proprietary antigens (proteins) that, when appropriately adjuvanted, provoke immune responses equivalent to, or better than, traditional live or inactivated viral vaccines — with a significantly improved safety profile.
During the past 3 years, Hawaii Biotech received funding commitments of over US $30 million from the US National Institutes of Health and other governmental agencies, to develop vaccines to prevent human infection by the West Nile virus, Dengue Fever virus, pandemic and annual Influenza viruses, and other serious incurable diseases including hepatitis C, malaria, Tick-borne and Japanese encephalitis, Ebola, and Eastern equine encephalitis.
Avantogen (formerly Australian Cancer Technology) is an international biotechnology company developing a broad oncology-related product portfolio.