Advaxis, Inc. has entered into an exclusive licensing agreement with Global BioPharma, Inc. (GBP) for the development and commercialization of ADXS-HPV for the treatment of human papillomavirus (HPV)-associated diseases. GBP, a Taiwanese based biotech company funded by a group of investors led by Taiwan Biotech Co., Ltd (TBC), was formed solely to focus on the development and commercialization of ADXS-HPV.
GBP plans to conduct registration trials with ADXS-HPV for the treatment of advanced cervical cancer and will explore the use of Advaxis’ candidate in several other indications including lung, head and neck, and anal cancer. Advaxis will receive success-based financial milestones, an annual development fee, and royalties on sales. In addition, as an upfront payment, GBP will make an investment in Advaxis by purchasing shares of its common stock. GBP will also have an option to purchase additional shares of Advaxis stock at a 150% premium to the stock price.
GBP will be responsible for all clinical development and commercialization costs in its territory. GBP is committed to establishing manufacturing capabilities for its own territory and to serving as a secondary manufacturing source for Advaxis in the future. Advaxis will exclusively license the rights to ADXS-HPV to GBP for the Asia, Africa, and former USSR territory, exclusive of India and certain other countries, for all HPV-associated indications. Advaxis will retain exclusive rights to ADXS-HPV for the rest of the world.
“The ADXS-HPV technology platform is groundbreaking,” said George Ko, chairman of Taiwan Biotech Co. and Global BioPharma. “We are looking forward to working with Advaxis which we believe is a company at the forefront of cancer immunotherapy research with the ability to treat patients with few options in countries where treatments are needed most.”
“This agreement is the first to be executed as part of Advaxis’ global commercialization strategy to enter into regional licensing deals with other market dominant biopharmaceutical companies in territories where there is a high prevalence of HPV-associated cancers,” said Daniel J. O’Connor, president and chief executive officer of Advaxis. “The GBP management team has extensive experience in research, clinical trials, CMC, manufacturing, and business development, and has set an aggressive strategy to conduct clinical trials and pursue commercialization for ADXS-HPV in its territory.”