Vical Incorporated granted worldwide, nonexclusive license for its patented platform DNA immunization technology and Vaxfectin adjuvant to Bristol-Myers Squibb Company for use in the production of antibodies.
Under the agreement, Bristol-Myers Squibb will use Vical's technology to generate antibodies with potential therapeutic uses in humans. Vical will also provide specified quantities of the Vaxfectin adjuvant to Bristol-Myers Squibb from time to time. Financial terms of the agreement were not disclosed.
"We are pleased to enter into this agreement with Bristol-Myers Squibb recognizing an important application of our DNA immunization technology," said Vijay B Samant, Vical's president and CEO. "DNA immunization has been used widely in the research setting as an efficient means of antibody production. This agreement represents a meaningful step toward monetizing a common use of our broadly applicable intellectual property asset, and establishes a template for additional agreements with others working in the field. Our Vaxfectin adjuvant has demonstrated significant improvement in the efficiency of the immunization process, and we are excited to establish this initial license agreement for Vaxfectin as well."
Vical researches and develops biopharmaceutical products based on its patented DNA delivery technologies for the prevention and treatment of serious or life-threatening diseases.