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Avid Bio sells PS-targeting cancer assets to Oncologie for up to $103M

Published 02/12/2018, 11:15 AM
© Reuters.  Avid Bio sells PS-targeting cancer assets to Oncologie for up to $103M
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  • Avid Bioservices (CDMO -1.2%) inks an agreement with Boston, MA-based Oncologie for the sale of its phosphatidylserine (PS)-targeting program, including PS-inhibitor bavituximab.
  • Under the terms of the deal, Oncologie will pay Avid $8M upfront, up to $95M in milestones and tiered royalties up to the mid-teens. Oncologie will be responsible for all future research, development and commercialization of bavituximab while Avid will provide contract development and manufacturing services.
  • PS is a phospholipid that inhibits the ability of immune cells to recognize and kill cancer cells.
  • Now read: Your Daily Pharma Scoop: A Look At Advaxis, AstraZeneca's Positive Results, AbbVie Reports Q4 Results


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