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AVAN - AVANT Announces Complement Inhibition License With Adprotech



Business Editors/Health/Medical Writers/High-Tech Writers
BIOWIRE2K

NEEDHAM, Mass.--(BUSINESS WIRE)--April 7, 2004--AVANT
Immunotherapeutics, Inc. (Nasdaq: AVAN) today announced the signing of
a license agreement with Adprotech, Ltd for non-exclusive rights to
use certain components of AVANT's intellectual property surrounding
complement inhibition. The license will enable Adprotech to continue
further development and commercialization of its APT070 product, which
is currently in a clinical trial in rheumatoid arthritis. No rights to
either of AVANT's complement programs, TP10 and TP20, were transferred
under the license. All rights to these two products remain fully owned
worldwide by AVANT. Financial details of the agreement with Adprotech
were not disclosed, but include upfront license fees, milestone
payments and royalties of an undisclosed amount.
"We believe this agreement validates the strength of AVANT's
patent portfolio in the area of complement inhibitors," said Una S.
Ryan, Ph.D., AVANT President and Chief Executive Officer. "AVANT is
pleased to have monetized some value from this important asset without
limiting the opportunities for our own programs."

About Adprotech

Adprotech is a privately funded development stage
biopharmaceutical company near Cambridge, UK. The company applies its
understanding of the immune system and its unique drug targeting
capabilities to develop products which address serious illnesses
including rheumatoid arthritis, organ transplant rejection, bacterial
infection and stroke. Adprotech focuses on the development of protein
therapeutics for chronic diseases and surgical complications caused by
autoimmune and inflammatory processes. Core expertise in the
engineering of complement-regulatory proteins provides a platform for
new product development. Adprotech is developing a complement
inhibitor, APT070, which is currently in an early stage Phase I/II
clinical trial for the potential treatment of rheumatoid arthritis and
has several follow-on indications in preclinical development.

About AVANT

AVANT Immunotherapeutics, Inc. discovers, develops and sells
innovative vaccines and therapeutics that harness the human immune
system to prevent and treat disease. The company has developed a
broad, well- staged pipeline of vaccines and therapeutics for large,
high-value, under-served markets. Six of AVANT's products are in
clinical development. These include an oral human rotavirus vaccine, a
treatment to reduce complement-mediated tissue damage associated with
cardiac by-pass surgery, and a novel vaccine for cholesterol
management. AVANT has also assembled a technology platform that
enables the creation of rapid-protecting, single-dose, oral vaccines
that remain stable without refrigeration. The company is developing
applications of this vaccine technology in four areas: biodefense,
travelers' vaccines, global health needs, and human food safety.
AVANT's goal is to demonstrate proof-of-concept for its products
before leveraging further development through both traditional
pharmaceutical partnerships and collaborations with governmental and
other organizations.
Additional information on AVANT Immunotherapeutics, Inc. can be
obtained through our site on the World Wide Web:
http://www.avantimmune.com.

Safe Harbor Statement Under the Private Securities Litigation
Reform Act of 1995: This release includes forward-looking statements
which reflect AVANT's current views with respect to future events and
financial performance. These forward-looking statements are based on
management's beliefs and assumptions and information currently
available. The words "believe", "expect", "anticipate", "intend",
"estimate", "project" and similar expressions which do not relate
solely to historical matters identify forward-looking statements.
Investors should be cautious in relying on forward-looking statements
because they are subject to a variety of risks, uncertainties, and
other factors that could cause actual results to differ materially
from those expressed in any such forward-looking statements. These
factors include, but are not limited to: (1) the integration of
multiple technologies and programs; (2) the ability to adapt AVANT's
vectoring systems to develop new, safe and effective orally
administered vaccines against anthrax and plague or other bioterrorism
threats or emerging health care threats; (3) the ability to
successfully complete development and commercialization of TP10,
CETi-1, CholeraGarde(TM) (Peru-15), Ty800 and other products; (4) the
cost, timing, scope and results of ongoing safety and efficacy trials
of TP10, CETi-1, CholeraGarde(TM) (Peru-15), Ty800 and other
preclinical and clinical testing; (5) the ability to successfully
complete product research and further development, including animal,
pre-clinical and clinical studies of TP10, CETi-1, CholeraGarde(TM)
(Peru-15), Ty800 and other products; (6) the ability of the Company to
manage multiple late stage clinical trials for a variety of product
candidates; (7) the volume and profitability of product sales of
Megan(R)Vac 1, Megan(R)Egg and other future products; (8) changes in
existing and potential relationships with corporate collaborators; (9)
the availability, cost, delivery and quality of clinical and
commercial grade materials supplied by contract manufacturers; (10)
the timing, cost and uncertainty of obtaining regulatory approvals to
use TP10, CETi-1, CholeraGarde(TM) (Peru-15) and Ty800, among other
purposes, for adults undergoing cardiac surgery, to raise serum HDL
cholesterol levels and to protect travelers and people in endemic
regions from diarrhea causing diseases, respectively; (11) the ability
to obtain substantial additional funding; (12) the ability to develop
and commercialize products before competitors; (13) the ability to
retain certain members of management; and (14) other factors detailed
from time to time in filings with the Securities and Exchange
Commission. We expressly disclaim any responsibility to update
forward-looking statements.

--30--TC/bo*

CONTACT: AVANT Immunotherapeutics, Inc.
President and CEO
Una S. Ryan, Ph.D., 781-433-0771
or
Chief Financial Officer
Avery W. Catlin, 781-433-0771
[e-mail]
or
For Media:
Kureczka/Martin Associates
Joan Kureczka, 415-821-2413
[e-mail]

KEYWORD: MASSACHUSETTS INTERNATIONAL EUROPE
INDUSTRY KEYWORD: PHARMACEUTICAL MEDICAL BIOTECHNOLOGY MARKETING
AGREEMENTS
SOURCE: AVANT Immunotherapeutics, Inc.

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Apr-07-2004 12:00 GMT
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