10th Aug 2015 07:12
LONDON (Alliance News) - AstraZeneca PLC said Monday that its biologics research and development arm MedImmune has entered a licence agreement and collaboration with NASDAQ-listed Inovio Pharmaceuticals Inc.
Under the agreement MedImmune will acquire exclusive rights to Inovio's INO-3112 immunotherapy. INO-3112 targets cancers caused by human papillomavirus types 16 and 18, AstraZeneca said. The product is currently in phase I/II clinical trials for cervical, and head and neck cancers.
It plans to study the compound in combination with some immunotherapy molecules in its pipeline of HPV-driven cancers. MedImmune will pay USD27.5 million upfront to Inovio. Future payments will potentially be payable depending on development and commercial milestones, and these potential future payments will be up to USD700 million.
The two companies will also develop up to two additional DNA-based cancer vaccine products, that MedImmune will have exclusive rights to develop and commercialise.
Shares in AstraZeneca were up 0.2% at 4,330.50 pence Monday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Astrazeneca