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Protein Sciences Expands License Agreement with UMN Pharma
Date:11/9/2010

MERIDEN, Conn., Nov. 9, 2010 /PRNewswire/ -- Protein Sciences Corporation (PSC) announced that it has expanded its 2006 agreement with UMN Pharma, Inc. (UMN), to which it licensed exclusive rights to commercialize FluBlok® and PanBlok® (together "PSC's influenza vaccines") in the Japan market. The amendment allows UMN to enter into collaboration agreements with Astellas Pharma Inc. (Astellas) and IHI Corporation (IHI).  Astellas' role will be to support further development, licensure and marketing of PSC's influenza vaccines for the Japan market.  PSC received a portion of the up-front payment paid by Astellas and will be entitled to receive a portion of the development and sales milestones and double-digit royalties on sales.  UMN will retain manufacturing rights and has partnered with IHI to establish a commercial manufacturing facility in Japan.

PSC and UMN have further amended their license agreement to expand the territories for which UMN holds exclusive rights to commercialize PSC's influenza vaccines to include China, Hong Kong, Korea, Singapore and Taiwan.  PSC has received a significant up-front payment and will be entitled to milestones upon licensure and high single-digit royalties on sales in each country.  In the event UMN sublicenses such rights, PSC will be entitled to payments similar to those under UMN's agreement with Astellas.

Daniel Adams, Executive Chairman, said, "We look forward to working with UMN and Astellas, which we view as an ideal development and marketing partner for UMN, to secure licensure and commercialize our influenza vaccines in Japan.  We also believe that UMN is well suited to bringing the benefits of FluBlok and PanBlok to the additional countries."  He added, "These agreements together with other recent developments, including our contract with BARDA, are key to growing our Company."

About PSC

PSC is a privately held biopharmaceutical company b
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SOURCE Protein Sciences Corporation
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