Brief: OSE Immunotherapeutics' Partner Veloxis Pharmaceuticals Obtains US Investigational New Drug Application For CD28 Antagonist VEL-101/FR104

Ose Immunotherapeutics SA

31/01/2022 17:35

Jan 31 (Reuters) - OSE Immunotherapeutics SA  OSE.PA :
    * OSE IMMUNOTHERAPEUTICS ANNOUNCES ACCEPTANCE OF US
INVESTIGATIONAL NEW DRUG (IND) APPLICATION OBTAINED BY VELOXIS
PHARMACEUTICALS, INC., ITS PARTNER IN TRANSPLANTATION, FOR CD28
ANTAGONIST VEL-101/FR104
    * THIS TRIAL WILL BE SPONSORED AND CONDUCTED BY VELOXIS
PHARMACEUTICALS, INC. IN UNITED STATES
    * BASED ON GLOBAL LICENSE AGREEMENT SIGNED IN APRIL 2021,
THIS
FIRST MILESTONE TRIGGERS A EUR 5 MILLION PAYMENT FROM VELOXIS
PHARMACEUTICALS, INC. TO OSE IMMUNOTHERAPEUTICS
    * IN PARALLEL, OSE IMMUNOTHERAPEUTICS RETAINS ALL PRODUCT
RIGHTS
TO DEVELOP FR104 IN AUTOIMMUNE DISEASES
    * MILESTONE PAYMENT, IN LINE WITH OUR BUSINESS MODEL, WILL
REINFORCE OUR CASH POSITION TO ADVANCE OUR IMMUNO-ONCOLOGY AND
IMMUNITY & INFLAMMATORY PIPELINE-CEO OSE IMMUNOTHERAPEUTICS

Source text for Eikon:  ID:nGNX4QT4H1 
Further company coverage:  OSE.PA 

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