GemVax AS sold to Pharmexa

Jonas Einarsson, <br>
director RF
Jonas Einarsson,
director RF
GemVax has been sold to the Danish biotechnology company Pharmexa.

GemVax is focused on the development of peptide vaccines, whiche are innovative immunotherapeutic anti-cancer drugs.

The founders of GemVax were Mona Møller ande Jon Amund Eriksen, who together with The Norwegian Radium Hospital Research Foundation (RF) formed the company.

The company's technology and products are based on research and development efforts carried out by Norsk Hydro since 1990, which GemVax's management estimates to have involved direct R&D expenses in excess of DKK 145 million. The work has been carried out in collaboration with Gustav Gaudernack, firstly at the National Hospital, then the Norwegian Radium Hospital.
The research work has been supported by the Norwegian Cancer Society, the Norwegian Research Council and Innovation Norway (previous SND).

Since the founding in 2001 the company has collaborated closely with a large network, which, in addition to the Norwegian Radium Hospital includes Ullevål University Hospital, Karlolinska Hospital (Sweden), Inselspital (Bern, Switzerland) and The Royal Liverpool University Hospital (England). Even if the company only have two employees, a large number of people has been involved in the development of the technology and the products.

GemVax's most advanced vaccine, GV1001, has demonstrated promising results in clinical trials with pancreatic cancer patients. In a number of small Phase I clinical studies, GV1001 has also demonstrated promising results in a number of other cancer types. To date, GemVax's vaccines has been tested in more than 100 cancer patients without any serious side effects, demonstrating clinical effects in several trials. As a result, Phase III studies with GV1001 are expected to commence in 2006.

GemVax is a Norwegian limited liability company established in 2001 as a spin-off from Norsk Hydro (now Hydro ASA), following a decision by Norsk Hydro to pull out of drug development.

Further reading:

Press release from GemVax AS (in Norwegian) - click download PDF document
Press release from Pharmexa (in English) - click to download PDF document