VBL climbs on Japan deal news

6 November 2017

Israeli biotech VBL Therapeutics (Nasdaq: VBLT) has granted Japanese company NanoCarrier (TYO: 4571) an exclusive license to develop and commercialize the gene therapy ofranergene obadenovec (VB-111) in Japan.

VBL, which retains rights to the cancer drug in the rest of the world, will receive $15 million up front as well as potential milestone payments of more than $100 million and tiered high-teen royalties.

VB-111 is VBL’s lead product and is currently being studied in a global Phase III pivotal trial for recurrent glioblastoma (rGBM), having demonstrated statistically significant overall survival and a progression-free survival in a Phase II trial versus current standard of care.

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