Peptide Therapeutics Group plc (LSE: PTE) was to announce today that it will spin out its drug discovery technology platforms into a new company and focus on its core vaccine programs.

PTE also was to announce that it has amended its agreement with Medeva plc (LSE:MDV) so that PTE will have 100 percent of the U.S. marketing rights to Arilvax, a yellow fever vaccine developed by MDV for which PTE previously had 50 percent of U.S. profits. PTE now will retain all the profits in return