Vaccinex enters accord with Teva on VX15

USA-based Vaccinex has entered into a collaboration with Israel-headquartered Teva Pharmaceutical Industries to develop and commercialize VX15, a novel human antibody discovered by the former. The product represents a new targeted therapy that has the potential to improve efficacy in treating multiple sclerosis by both suppressing the body's autoimmune response and blocking damage to the central nervous system, says the US firm.

VX15 has also shown the ability to eradicate tumors in animal studies by inhibiting blood flow and starving cancer cells of nutrients and energy. It is one of four Vaccinex antibodies currently in preclinical development.

According to the terms of the agreement, Teva will make an equity investment in Vaccinex and pay undisclosed fees, development milestones and royalties on product sales to acquire an exclusive license for the development and commercialization of VX15 in MS and other disease indications. Vaccinex retains rights to oncology indications and will continue to conduct all preclinical development activities which will be funded by Teva. The Israeli company will have an option to participate as a co-development partner in oncology programs after Vaccinex completes Phase I clinical trials.