Transgene jumps as AstraZeneca exercises option for its oncolytic virus candidate

Transgene SA

15/12/2021 08:44

** Shares of French biopharma company Transgene  TRNG.PA 
jump 9% after AstraZeneca  AZN.L  exercised its first license
option for an oncolytic virus (OV) generated by Transgene's
Invir.IO platform  urn:newsml:reuters.com:*:nFWN2T00GP
    ** Transgene will receive an upfront payment of $8 million
for the option exercise 
    ** The French company said it is also eligible to receive
development, regulatory and sales-based milestones payments as
well as a royalty based on future commercial sales
    ** Invir.IO oncolytic virus - a virus that preferentially
infects and kills cancer cells - is being developed from
on-going OV collaboration between the two companies
    ** "We are looking forward to seeing this exciting OV
candidate progress into clinical development," CEO of Transgene
said in a statement
    ** Transgene shares are on track for their best day in
almost 3.5 months

 (Reporting by Michal Aleksandrowicz)
 ((michal.aleksandrowicz@tr.com))