Biotech

Inovio Pharmaceuticals announced an agreement to provide ApolloBio Corporation with the exclusive right to develop and commercialize VGX-3100, an immunotherapy product designed to treat pre-cancers caused by HPV, within Greater China.

Inovio Pharmaceuticals (NASDAQ:INO) announced an agreement to provide ApolloBio Corporation with the exclusive right to develop and commercialize VGX-3100, an immunotherapy product designed to treat pre-cancers caused by human papillomavirus (HPV), within Greater China (China, Hong Kong, Macao, Taiwan).
As quoted in the press release:

Based on the new agreement, ApolloBio will make an upfront payment of $23 million (an increase from the previously announced amount of $15 million), as well as potential future payments up to $20 million upon meeting certain milestones.  In addition, Inovio is entitled to receive double-digit tiered royalty payments on sales. As part of the new terms which replace the previous amendments to this agreement that were announced on November 2, 2017, the parties have agreed to terminate ApolloBio’s right to purchase Inovio stock. This collaboration of VGX-3100 encompasses the treatment and/or prevention of pre-cancerous HPV infections and HPV-driven dysplasias (including cervical, vulvar and anal pre-cancers) and excludes HPV-driven cancers and all combinations of VGX-3100 with other immunostimulants. The agreement also provides for potential inclusion of the Republic of Korea during the next three years.

Click here to read the full press release.

Source: globenewswire.com

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