03.21.18
Inovio Pharmaceuticals has closed an agreement providing ApolloBio with exclusive rights to develop, manufacture and commercialize VGX-3100, Inovio’s DNA immunotherapy product designed to treat precancers caused by human papillomavirus (HPV), within mainland China, Hong Kong, Macao, and Taiwan.
ApolloBio will pay Inovio $23 million upfront as well as potential future payments as much as $20 million upon meeting certain milestones. Inovio is also entitled to receive royalties on sales. This collaboration for VGX-3100 encompasses the treatment and/or prevention of precancerous HPV infections and HPV-driven dysplasias 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.
Dr. J. Joseph Kim, Inovio’s president and chief executive officer, said, “We are pleased to close this agreement that opens large markets and brings us $23 million in non-dilutive cash with future milestone payments and royalties on sales. ApolloBio is an excellent partner that will provide significant capabilities and expertise relating to product development, the Chinese regulatory landscape, and the commercial market in China. This agreement strengthens and expands our global efforts to develop VGX-3100.”
“With this license and collaboration agreement we are now on the path to introduce late-stage innovative new drugs to meet severely unmet medical needs within the Greater China region," said Dr. Weiping Yang, chief executive officer of ApolloBio. "We are excited at the potential for VGX-3100 to address multiple indications within HPV-associated precancer, and we are very pleased to launch this strategic collaboration with Inovio, an innovative global biotechnology partner.”
ApolloBio will pay Inovio $23 million upfront as well as potential future payments as much as $20 million upon meeting certain milestones. Inovio is also entitled to receive royalties on sales. This collaboration for VGX-3100 encompasses the treatment and/or prevention of precancerous HPV infections and HPV-driven dysplasias 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.
Dr. J. Joseph Kim, Inovio’s president and chief executive officer, said, “We are pleased to close this agreement that opens large markets and brings us $23 million in non-dilutive cash with future milestone payments and royalties on sales. ApolloBio is an excellent partner that will provide significant capabilities and expertise relating to product development, the Chinese regulatory landscape, and the commercial market in China. This agreement strengthens and expands our global efforts to develop VGX-3100.”
“With this license and collaboration agreement we are now on the path to introduce late-stage innovative new drugs to meet severely unmet medical needs within the Greater China region," said Dr. Weiping Yang, chief executive officer of ApolloBio. "We are excited at the potential for VGX-3100 to address multiple indications within HPV-associated precancer, and we are very pleased to launch this strategic collaboration with Inovio, an innovative global biotechnology partner.”
