Vical enters $100M deal Allovectin-7 deal with AnGes

The USA's Vical has entered a collaborative deal for its cancer immunotherapeutic Allovectin-7, with Japanese drugmaker AnGes. Under the terms of the deal, AnGes will provide up to $100.0 million in ongoing clinical trial funding and eventual future sales-based milestones, while Vical retains exclusive marketing rights for Allovectin-7 in the USA and the rest of the world outside of specified Asian countries, for which AnGes has the exclusive license. Through a scheduled series of cash payments and equity investments totaling $22.6 million, including an initial equity stake of $6.9 million, AnGes will fund the Phase III pivotal trial of the agent to be conducted by Vical in the USA in accordance with a Special Protocol Assessment completed with the Food and Drug Administration. Each company will be responsible for obtaining regulatory approvals in its own territories.