Genentech ready to spend over $700 million on cancer vaccines deal with Vaccibody
Shares of Vaccibody (VACC: NO) shot up 46% to 54.00 Norwegian kroner yesterday as the Oslo-based clinical-stage biotech announced an exclusive worldwide license and collaboration agreement with Genentech, a subsidiary of Swiss pharma giant Roche (ROG: SIX), for the development and commercialization of DNA-based individualized neoantigen vaccines for the treatment of cancers.
Vaccibody will conduct development through the end of Phase Ib and Genentech will be responsible for development and commercialization thereafter. The transaction will combine Genentech’s global cancer immunotherapy research, development and commercial leadership with Vaccibody’s targeted DNA-based vaccine platform to realize a potential new treatment paradigm of individualized cancer vaccines.
Deal includes $200 million upfront
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