Actelion and Max Planck Society create new start-up Vaxxilon

Actelion has partnered with the Max Planck Society to create a new start-up business, Vaxxilon, which will work to discover, develop and commercialise synthetic carbohydrate vaccines.

Under the terms of the agreement, Actelion will be the new business's principal investor and majority shareholder, having made a funding commitment of up to 30 million euros (21.34 million pounds), to be released in tranches over a period of three to four years.

Vaxxilon has licensed exclusive rights to multiple preclinical vaccine candidates and additional technologies from Max-Planck Innovation, the technology transfer office of the Max Planck Society.

The new firm will be led by Tom Monroe, who has served in various roles of growing responsibility at Actelion over the past 15 years.

Dr Jean-Paul Clozel, chief executive officer of Actelion, said: "We are building a platform from which synthetic carbohydrate vaccines could become a commercial reality within the next decade."

The company achieved a better-than-expected performance in the first quarter of 2015, on the back of strong drug sales.