Advaxis, Global BioPharma Ink Licensing Agreement for HPV Candidate
Advaxis has entered into a licensing deal for the development and commercialization of ADXS-HPV with Global BioPharma (GBP) for the treatment of human papillomavirus (HPV)-associated disease.
As part of the agreement, Advaxis will exclusively license to GBP the rights to ADXS-HPV for Asia, Africa, and former USSR territory, exclusive of India and certain other countries. Advaxis will retain rights for the rest of the world. GBP said it is committed to establishing manufacturing capabilities for its own territory and to serving as a secondary manufacturing source for Advaxis in the future.
GBP plans to conduct registration trials with ADXS-HPV for the treatment of advanced cervical cancer and will explore the use of Advaxis’ candidate in several other indications including lung, head and neck, and anal cancer.
Advaxis will receive event-based financial milestones, an annual development fee, and annual net sales royalty payments from GBP. Additionally, as an upfront payment, GBP will make an investment in Advaxis by purchasing shares of the company’s stock at market price. An option to purchase additional shares at a 150% premium to the stock price will also be available to GBP on the effective date of the agreement.
GBP will be responsible for all clinical development and commercialization costs in the GBP territory and pay the clinical trial costs for up to 150 patients with cervical cancer for enrollment in Advaxis’ U.S. and GBP’s Asia registrational programs for cervical cancer.