MultiCell and Oxis Biotech sign antibody-drug conjugate collaboration

13 March 2015

MultiCell Immunotherapeutics (MCIT), a majority owned subsidiary of MultiCell Technologies (OTC: MCET), has signed an R&D and product license agreement with Oxis Biotech (OTC: OXIS) to create three novel antibody-drug conjugates (ADCs) containing Oxis' lead drug candidates using MCIT's proprietary ADC platform technology.

These ADC product candidates are to be used by Oxis for the treatment of triple-negative breast cancer, and multiple myeloma and associated osteolytic lesions which are significant unmet medical needs. News of the deal sent Oxis’ share up 6.9% to $0.045, while MultiCell rocketed 200% to $0.0006 by close of trading on Thursday.

Financial terms of the deal

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