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Inovio amends license agreement for lead candidate VGX-3100 in China; shares up 4% premarket

Published 01/02/2018, 08:51 AM
© Reuters. Inovio amends license agreement for lead candidate VGX-3100 in China; shares up 4% premarket
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  • Inovio Pharmaceuticals (NYSEMKT:INO) is up 4% premarket on light volume on the heels of its announcement that it has amended its agreement with ApolloBio granting it exclusive rights to develop and commercialize lead candidate VGX-3100 in Greater China (China, Hong Kong, Macau, Taiwan). Korea may be added at some point over the next three years.
  • Under the terms of the new deal, Inovio will receive $23M upfront, up to $20M (from $15M) in milestones and tiered double-digit royalties on net sales. ApolloBio will no longer have the right to purchase Inovio stock.
  • The agreement covers the use of VGX-3100 to treat/prevent precancerous HPV infections and HPV-driven dysplasias (cervical, vulvar, anal precancers) but excludes HPV-driven cancers and all combinations of VGX-3100 with other immunostimulants.
  • Previously: Inovio teams up with ApolloBio to develop VGX-3100 in China (Feb. 13, 2017)
  • Now read: Your Daily Pharma Scoop: Progenics Azerda Update, Atara Gets FDA Clearance For Phase 3 Trial, Avadel Provides Update


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