FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report of Foreign Private Issuer
Pursuant to Rule 13s - 16 or 15d - 16 of
the Securities Exchange Act of 1934
For the month of October 2006
Acambis plc
(Translation of registrant's name into English)
Peterhouse Technology Park
100 Fulbourn Road
Cambridge CB1 9PT
England
(address of principal executive offices)
(Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F
Forms 20-F X Form 40-F
Indicate by check mark whether the registrant by furnishing the information
contained in this Form also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the
Securities Exchange Act of 1934).
Yes No X
(if "Yes" is marked, indicate below the file number assigned to the registrant
in connection with Rule 12g3-2(b): 82- ).
Enclosure:
Disposal
Acambis sells Berna Products to Crucell for $16.5m
Cambridge, UK and Cambridge, Massachusetts - 2 October 2006 - Acambis plc
("Acambis") (LSE: ACM, NASDAQ: ACAM) announces the sale of its Berna Products
Corporation ("Berna Products") business to Crucell NV ("Crucell"). Berna
Products is no longer a strategic asset for Acambis following the termination of
the ARILVAX licensing agreement, which was announced on 12 September. The sale
agreement and consequential termination of the product distribution agreement
between Berna Products and Crucell resulted in Acambis receiving cash proceeds
of $16.5m (c.GBP9m).
Berna Products sells and distributes Vivotif(R), an oral typhoid vaccine, in
North America. The sale includes its operations in Miami and Canada, totalling
15 employees. Berna Products has North American sales rights to Vivotif from
Berna Biotech AG, which was acquired by Crucell in March 2006. The distribution
agreement was due to end in 2010.
Acambis acquired Berna Products in 2003. In 2005, when the competitor product
was unavailable for part of the year, revenues from sales of Vivotif were
$12.9m, up from $6.8m in 2004. The pre-tax contribution in 2005, before overhead
allocations, was $5.3m, compared with $1.9m in 2004. The competitor product has
since returned to the market. The value of the gross assets (including
intangibles) being sold was $10.7m.
Acambis originally acquired Berna Products to help build a travel vaccines
franchise in the US. As well as selling Vivotif, it had planned to use its
rights under a licensing agreement with companies since acquired by Novartis to
license the ARILVAX yellow fever vaccine for sale in the US and to distribute it
through Berna Products. However, due to non-performance by those predecessor
companies, Acambis was unable to obtain the required marketing approval.
Novartis recently agreed to pay Acambis $19m to settle disputes related to this
non-performance, which resulted in the ARILVAX licensing agreement being
terminated, as announced on 12 September.
Gordon Cameron, Chief Executive Officer, said:
"Berna Products is no longer a strategic asset and its sale today crystallises
$16.5m of value and cash in the short term. Together with the recently announced
$19m ARILVAX settlement and near-term revenues from the ACAM2000 US Government
$30m order, this deal further strengthens our financial position as we drive
towards our goal of building a high-value product pipeline."
-ends-
Enquiries:
Acambis plc
Lyndsay Wright, VP, Communications and IR
Tel: +44 (0 1223 275 300
Financial Dynamics
David Yates/Anna Keeble
Tel: +44 (0) 20 7831 3113
About Acambis
Acambis is a leading developer of vaccines to prevent and treat infectious
diseases. Recognised internationally as the leading producer of smallpox
vaccines, Acambis is developing an investigational smallpox vaccine, ACAM2000,
and is manufacturing emergency-use stockpiles of this investigational vaccine
for the US Government and other governments around the world. It is also
developing an attenuated smallpox vaccine, MVA3000, under contracts with the US
National Institutes of Health. Acambis' investigational vaccine against Japanese
encephalitis, ChimeriVax-JE, is undergoing Phase 3 clinical testing. It also has
the most advanced investigational vaccine against the West Nile virus, which has
spread to 48 US States in the last seven years, and a vaccine against
Clostridium difficile bacteria, a leading cause of hospital-acquired infections.
Acambis is based in Cambridge, UK and Cambridge, Massachusetts, US. Its primary
listing is on the London Stock Exchange (ACM) and its shares are listed in the
form of American Depositary Receipts on NASDAQ (ACAM). More information is
available at www.acambis.com.
"Safe Harbor" statement under the Private Securities Litigation Reform Act of
1995:
The statements in this news release that are not historical facts are
forward-looking statements that involve risks and uncertainties, including the
timing and results of clinical trials, product development, manufacturing and
commercialisation risks, the risks of satisfying the regulatory approval process
in a timely manner, the need for and the availability of additional capital. For
a discussion of these and other risks and uncertainties see "Risk management" in
the Company's 2005 Annual Report and "Risk factors" in its Form 20-F, in
addition to those detailed on the Company's website and in the Company's filings
made with the Securities and Exchange Commission from time to time. These
forward-looking statements are based on estimates and assumptions made by the
management of Acambis and are believed to be reasonable, though are inherently
uncertain and difficult to predict. Actual results or experience could differ
materially from the forward-looking statements.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant Peptide Therapeutics Group has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized.
Date: 02 October 2006 ACAMBIS PLC
By: /s/ Lyndsay Wright
Name: Lyndsay Wright
Title: VP, Communications and IR.