MabVax Therapeutics sublicenses therapeutics for patented neuroblastoma vaccine
US clinical-stage oncology drug developer MabVax Therapeutics (OTCQB: TELK) has granted to Denmark-based Y-mAbs Therapeutics an exclusive sublicense to a bi-valent ganglioside based vaccine intended to treat neuroblastoma, a rare pediatric cancer.
News of the deal sent the US firm’s shares up 7.6 to $0.58 by mid-morning trading today.
A third of neuroblastoma patients are diagnosed as infants; and 90% are younger than five years of age at time of diagnosis. Neuroblastoma is responsible for 12% of all cancer deaths in children less than 15 years of age.
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