ImmunoCellular sells most of its remaining assets

Shares of USA-based ImmunoCellular Therapeutics (OTC: IMUC) closed up 6.7% at $0.018 yesterday, after the biotech firm announced an agreement with an unnamed privately held biotechnology company for the purchase of substantially all of ImmunoCellular's remaining clinical and pre-clinical assets, including its preclinical and clinical programs, technology, intellectual property and know-how.

ImmunoCellular's therapeutic assets are comprised of ICT-107 (Phase III-ready for glioblastoma), ICT-121 (Phase I completed for recurrent glioblastoma) and ICT-140 (Phase I/II-ready for ovarian cancer), each of which is a patient-specific dendritic cell-based immunotherapy targeting solid tumors. Preclinical assets include theStem-to-T-Cell research program, which engineers hematopoietic stem cells to generate cytotoxic T cells.

The aggregate purchase price of the assets is $1,000,000, payable by the purchaser in two payments. The first upfront payment of $500,000 was received by ImmunoCellular upon closing of the agreement on May 8, 2019, and is non-refundable. The second, or continuation, payment of $500,000 is dependent upon the outcome of certain anticipated discussions between the purchaser and the US Food and Drug Administration concerning the review and development of clinical asset ICT-107.