Flu license fees nothing to sneeze at for BioDiem

Vaccine development company BioDiem (ASX:BDM) has received $844,000 in license fees from international licensors to its influenza vaccine technology.

These fees represent near 10% of the company's current market capitalisation of $8.47 million.

They bring the total revenue from licensing of its Live Attenuating Influenza Vaccine (LAIV) technology to around $1.4 million for the year to date.

BioDiem has so far licensed the LAIV IP to several companies - including China's Changchun BCHT, in a deal first announced in February.

The LAIV technology was developed at the Institute of Experimental Medicine in St Petersburg.

It is used to develop a nasal spray vaccine for seasonal and pandemic influenza, and can be used with both egg- and cell-based production methods.

BioDiem CEO Julie Phillips said the company will seek to forge further licensing agreements for the technology.

“Building the revenue stream from our vaccine licensing work is a key objective for BioDiem,” she said.

“Increasing the availability of the LAIV intranasal vaccine will help increase vaccination uptake, especially in children, and lower the number of preventable deaths from influenza.”

Late last year, BioDiem also licensed vaccine technology to India's Serum Institute – one of the world's largest vaccine makers. The company is also in the development stage of antimicrobial and eye disease projects.

BioDiem (ASX:BDM) shares stayed flat during Tuesday's trading at $0.083.