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Lineage Stock Gains After Licensing Pact With Immunomic Therapeutics For Cancer Immunotherapy Platform

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Lineage Stock Gains After Licensing Pact With Immunomic Therapeutics For Cancer Immunotherapy Platform
  • Lineage Cell Therapeutics Inc (NYSE: LCTX) has entered into a worldwide license and development collaboration agreement with a privately-held Immunomic Therapeutics Inc (ITI) to manufacture and develop a novel candidate using Lineage's VAC allogeneic cancer immunotherapy platform for glioblastoma multiforme, the most aggressive form of brain cancer.
  • ITI will assume full and independent clinical and commercial responsibility and further advancement of the program.
  • Under the terms of the agreement, Lineage will be entitled to upfront payments totaling $2 million anticipated in the first year and up to $67 million in milestone payments.
  • Lineage also will be eligible to receive royalties up to 10% on net sales of future products.
  • VAC2 is an allogeneic, or non-patient specific "off-the-shelf," cancer vaccine product candidate designed to stimulate patient immune responses to an antigen commonly expressed in cancerous cells but not in normal adult cells.
  • Price Action: LCTX shares are up 7.8% at $2.3 in market trading hours on the last check Tuesday.
 

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