Roche pulls out of deal with Inovio on hepatitis B vaccine
Swiss pharma giant Roche (ROG: SIX) has notified Inovio Pharmaceutical (Nasdaq: INO) that it will discontinue its collaboration with Inovio and its development of INO-1800.
Inovio responded by saying it will continue to develop its hepatitis B DNA immunotherapy (INO-1800) vaccine independently. The company’s shares dipped as low as $9.66 by around 10 am, before recovering to $9.84, a rise of 2.45% by 11 am on Wednesday’s closing price.
All of Roche's rights to INO-1800, including the right to license the product to other parties, will be returned. Inovio will continue to advance its current Phase I study of INO-1800, which is enrolling as planned in 30 clinical sites in USA and Asia-Pacific regions. Inovio anticipates completing enrollment in the first half of 2017 and expects results in the second half of 2017.
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