Roche declines to take up option on SQZ Bio's SQZ-APC-HPV program
US cell therapy developer SQZ Biotechnologies (OTC: SQZB) saw its shares close down almost 6% at $0.10 yesterday, after it revealed that Swiss pharma giant Roche (ROG: SIX) has decided not to excercise its option for HPV 16 positive solid tumors under the SQZ-APC-HPV program. Roche paid SQZ $45 million upfront for the option rights in 2018.
As a result, SQZ Biotechnologies will regain full clinical development and future commercialization rights for its programs targeting HPV 16 positive tumors. The company intends to explore potential strategic partnerships to support the advancement of its oncology programs and platforms.
The company said it has completed a review of its portfolio and highlights the following achievements. SQZ antigen presenting cells (APC) candidate was well tolerated in a Phase I trial and provided a significant survival benefit to a subpopulation of patients with enhanced tumor T cell infiltration.
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