Virax Holdings Ltd. has entered into a license agreement with the French biopharmaceutical company, Transgene SA. The license grants Transgene exclusive access to Virax's Co-X-Gene technology patents for use in two of Transgene's immunotherapeutic products, TG4010 and TG4001 (MVA-HPV-IL2).
These products are currently in phase IIb clinical trials for treating non-small cell lung cancer (TG 4010) and in preparation for phase III trials against Human Papilloma Virus-associated pathologies (TG 4001).
The license applies specifically to the US and Canada and to Transgene's TG4010 expressing MUC1 and IL2, and TG4001 expressing HPV antigens and IL2. Under the terms of the agreement, Virax will receive an upfront license fee and will share in fees and milestone payments received by Transgene in the event that it licenses out either of the products covered by the Co-X-Gene technology license and they achieve agreed development milestones.
Virax could receive up to US$12 million under the agreement (US$9 million for TG4010 and US$3 million for TG4001). In addition Virax will receive a royalty on net sales of the licensed products in North America. Specific financial terms of the agreement were not disclosed.
"We are delighted to enter into this license agreement with Transgene, one of the leading companies developing this new class of immunotherapeutic products", said Dr David J Beames, Virax CEO. "The agreement with Transgene is an important milestone in the development of this novel class of products and helps both companies move toward the goal of bringing immunotherapeutics to world markets."