Lion Biotechnologies (LBIO) Enters Licensing Agreement for Glioblastoma, Pancreatic Cancer Studies
- Record-setting rally pushes on as S&P ends week up 3 percent
- Trump's Cohn Pick Most Bullish Sign Yet for Banks - Cowen
- Unusual 11 Mid-Day Movers: (IDXG) (INVN) (EBS) Higher; (SCON) (DTEA) (DLTH) Lower (more...)
- 21st Century Fox (FOXA) offers to acquire Sky for GBP10.75/share
- Coca Cola (KO) Announces James Quincey to Succeed Muhtar Kent as CEO; Kent to Continue as Chairman
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
Lion Biotechnologies, Inc. (Nasdaq: LBIO) announced that it has entered into an exclusive license agreement with PolyBioCept AB, a corporation organized under the laws of Sweden, and a related clinical trials agreement to sponsor two clinical studies in glioblastoma and pancreatic cancer at the Karolinska University Hospital in Sweden.
Under the terms of the license agreement, Lion gained exclusive worldwide rights to two international patent applications related to a specific combination of cytokines for use in the expansion, selection and enrichment of TIL products for the treatment of multiple cancer indications. Lion also has co-exclusive worldwide rights (with PolyBioCept) to make genetically engineered TIL using the cytokine cocktail for use in multiple cancer indications.
Under the terms of the clinical trials agreement, Lion will fund two clinical studies in glioblastoma and pancreatic cancer to be conducted at the Karolinska University Hospital in which TIL is manufactured using the licensed combination of cytokines.
"In addition to our ongoing efforts to develop treatments for patients with metastatic melanoma using TIL therapy, we are committed to expanding the use of TIL for patients with other solid tumors. We are excited to be working with PolyBioCept and the Karolinska University Hospital to treat glioblastoma and pancreatic cancer patients with TIL manufactured with a new combination of cytokines developed by researchers at the Karolinska Institute. Our partnership with Karolinska further positions Lion to be a leader in developing cell-based immunotherapies that can treat solid tumor indications," said Maria Fardis, PhD, MBA, Lion Biotechnologies President and Chief Executive Officer.
Dr. Markus Maeurer, head of the division Therapeutic Immunology (TIM), Department of Laboratory Medicine and senior physician at the center for allogeneic stem cell transplantation, Karolinska University Hospital, and Dr. Ernest Dodoo Deputy Head Division Therapeutic Immunology, director Neuro-Oncology Program and director Gamma Knife Program at the Department of Neurosurgery, Karolinska University Hospital said, "We are pleased to be working with Lion Biotechnologies in advancing the TIL technology through the conduct of two Phase I trials at the Karolinska University Hospital. These trials are aligned with the vision of the Karolinska University Hospital to make a significant contribution to the improvement of human health. We are pleased to offer these immunological therapies for glioblastoma and pancreatic cancer patients in need of individually-tailored care."
Lion will pay PolyBioCept $2.5 million in upfront payments under the exclusive license. Lion will also make additional payments (in cash and in shares of Lion's common stock) upon achievement of certain clinical, regulatory and sales milestones. The clinical trials agreement calls for a total of $1.7 million to be paid to the Karolinska University Hospital and PolyBioCept to conduct the clinical trials in glioblastoma and pancreatic cancer.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Akili, Pfizer (PFE) Report Positive Data from Study to Detect Subtle Cognitive Changes in Healthy Subjects at Risk of Developing AD
- Eli Lilly & Co. (LLY), AstraZeneca (AZN) to Co-Develop MEDI181 for Alzheimer's
- VirnetX Holding (VHC) Disappointed on Federal Circuit's Decisions; Positive on Dissenter
Create E-mail Alert Related CategoriesCorporate News, FDA, Management Comments
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!