Brief: Targovax And IOVaxis Enter Option Agreement For TG Mutant RAS Vaccine License And Clinical Development In China

Circio Holding ASA

08/01/2020 06:45

Jan 8 (Reuters) - Targovax ASA  TRVX.OL :
    * TARGOVAX AND IOVAXIS THERAPEUTICS ENTERS OPTION AGREEMENT
FOR TG
MUTANT RAS VACCINE LICENSE AND CLINICAL DEVELOPMENT IN CHINA
    * IOVAXIS BUYS AN EXCLUSIVE OPTION TO LICENSE TG01/02 CANCER
VACCINES FOR CHINA, HONG KONG, MACAU AND SINGAPORE, FOR A FEE OF
USD 250.000
    * IF EXERCISED, LICENSE HAS A POTENTIAL VALUE OF UP TO USD
100
MILLION IN DEVELOPMENT AND COMMERCIAL MILESTONES, IN ADDITION TO
DOUBLE-DIGIT ROYALTIES
    * PARTIES WILL NEGOTIATE A FULL LICENSE AGREEMENT BASED ON
PRE-AGREED TERMS AND PRINCIPLES IN OPTION AGREEMENT
    * FULL LICENSE AGREEMENT REMAINS TO BE FINALIZED, BUT
PARTIES HAVE
PRE-AGREED KEY COMMERCIAL AND OPERATIONAL TERMS IN OPTION
AGREEMENT
    * IF EXERCISED, TOTAL POTENTIAL DEVELOPMENT AND COMMERCIAL
MILESTONES FOR TG01/02 LICENSE MAY REACH UP TO USD 100 MILLION,
PLUS TIERED ROYALTIES ON NET SALES UP TO MID DOUBLE DIGITS.

Source text for Eikon:  ID:nWkr2fxJxf 
Further company coverage:  TRVX.OL 

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