Vical to earn as much as $130 million from TransVax deal with Astellas
US drug developer Vical (Nasdaq: VICL) saw its share price leap 11.6% to $4.80 after it revealed that it has entered into an agreement with Japanese drug major Astellas Pharma (TKO:4503) for its TransVax therapeutic vaccine.
Under the terms of the deal, Astellas gets exclusive rights to develop and commercialize Vical’s TransVax, designed to control cytomegalovirus (CMV) reactivation in transplant recipients, for all territories outside the USA, and co-rights in the USA.
Vical will receive near-term payments of $35 million, including $25 million upon the effective date and $10 million upon finalization of the Phase III trial design. Vical potentially will receive up to $130 million in total upfront and milestone payments through commercial launch and double-digit royalties on net sales.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
Free
7 day trial access
- All the news that moves the needle in pharma and biotech
- Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
- Receive The Pharma Letter daily news bulletin, free forever.
Become a subscriber
£820
Or £77 per month
- Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
- Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
- Daily roundup of key events in pharma and biotech.
- Monthly in-depth briefings on Boardroom appointments and M&A news.
- Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
More on this story...
Today's issue
Company Spotlight
More Features in Pharmaceutical
Copyright © The Pharma Letter 2024 | Headless Content Management with Blaze