Oxford and Sanofi in TroVax renal cancer deal
UK-based biopharmaceutical group Oxford BioMedica and French drug major Sanofi-Aventis have entered into a global licensing agreement to develop and commercialize TroVax, the former's leading anticancer vaccine. The UK firm said that the drug is an immunotherapeutic that is under assessment in a Phase III trial as a treatment for renal cancer (TRIST).
Under the terms of the deal, Sanofi-Aventis will pay an initial fee of 29.0 million euros ($38.6 million), as well as further near term milestones of 19.0 million euros on the achievement of developmental goals in the ongoing Ph III trial. Including other undisclosed payments and escalating royalties on future product sales, Oxford BioMedica said that the accord could be worth up to 518.0 million euros.
In return, the UK firm, which has an option to develop the drug for use against other cancers, will supply the agent to Sanofi on commercial terms.
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