BioSante out-licenses melanoma vaccine in $39 million plus commercial deal with charity

23 July 2011

US drug developer BioSante Pharmaceuticals (Nasdaq: BPAX) has licensed exclusive worldwide for its melanoma vaccine to the John P Hussman Foundation, a charitable foundation that supports research to address life-threatening medical conditions and significant disabilities. BioSante received $100,000 on signing the accord and is eligible for up to $39 million in milestone payments, plus royalties on sales.

Additionally, the Hussman Foundation has committed up to about $11 million in melanoma vaccine clinical development funding. Also, BioSante will receive between 15% and 33% of any sublicense payments received by the Hussman Foundation depending on the timing of any sublicense by the Foundation to a corporate sub-licensee.

BioSante’s melanoma vaccine, which was granted orphan designation by the US Food and Drug Administration earlier this year (The Pharma Letter January 26), is one of a portfolio of cancer vaccines in development by the company including vaccines for leukemia, breast and pancreatic cancer.

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