Avalo Therapeutics, Apollo Therapeutics Ink Pact For Anti-IL-18 Antibody - Avalo Therapeutics (NASDAQ:AVTX)

Avalo Therapeutics Inc AVTX and Apollo Therapeutics Group Limited have entered into a worldwide, exclusive license agreement granting rights to Apollo to research, develop, manufacture, and commercialize AVTX-007 (camoteskimab), Avalo's anti-IL-18 monoclonal antibody product.
Under the terms of the agreement, Apollo will assume responsibility for the future development of AVTX-007, including the ongoing clinical trial.
Apollo will lead future clinical development in its selected therapeutic indications.
Avalo will receive $5 million of upfront fee and an additional approximately $10 million as consideration for transfer activities.
Apollo will also pay Avalo up to $74 million of milestones and a royalty payment of a low single-digit percentage of annual net sales.
The AVTX-007 program was initially licensed to Avalo by MedImmune Limited, a subsidiary of AstraZeneca plc AZN.
Price Action: AVTX shares are up 5.56% at $3.80 during the market session on the last check Monday.