$100 Million Potential Cancer Therapeutics Development and License Agreement Announced
A Norway based immuno-oncology company announced that it has entered into an exclusive option agreement with IOVaxis Therapeutics of Nantong, China, for clinical development and licensing of the Targovax mutant RAS vaccines TG01 and TG02 in China, Hong Kong, Macau, and Singapore.
Announced in a press release on January 8, 2020, IOVaxis, a spin-off from ImmuOn Therapeutics, said it has secured an exclusive option to develop and license the TG01 and TG02 mutant RAS neoantigen vaccines in the above-mentioned China territories. RAS proteins function as binary molecular switches that control intracellular signaling.
Targkvax’s lead product candidate, ONCOS-102, is a genetically modified oncolytic adenovirus, which has been engineered to selectively infect cancer cells and activate the immune system to fight cancer.
ONCOS-102 is currently being tested in mesothelioma, melanoma and peritoneal malignancies and has already shown promising clinical results both as monotherapy and in combination with chemotherapy, and a checkpoint inhibitor.
If the Option Agreement is exercised, the total potential development and commercial milestones for the TG01/02 license may reach up to USD 100 million, plus tiered royalties on net sales.
Dr. John Wang, CEO of IOVaxis, said: “We are a pioneer in neoantigen cancer vaccine development in China, and we have been searching for suitable shared neoantigen vaccine products to in-license for regional development.”
“Mutant RAS solid tumors are prevalent and a high unmet medical need in China, particularly in pancreatic and colorectal cancers, and we, therefore, believe the TG01 and TG02 vaccines have significant local commercial potential and can benefit a large number of patients”.
Targovax is developing a cancer immunotherapeutic technology with a targeted mechanism of action, making tumors visible to the immune system and educating the immune system to recognize and attack patient-specific tumor cells. The technology is based on adenoviruses engineered to kill tumor cells primarily via activation of a systemic, patient-specific anti-tumor immune response.
Targovax is a clinical-stage immuno-oncology company developing oncolytic viruses to target hard-to-treat solid tumors. Targovax’s lead product candidate, ONCOS-102, is a genetically modified oncolytic adenovirus, which has been engineered to selectively infect cancer cells and activate the immune system to fight cancer.
Cancer vaccine news published by Vax-Before-Cancer