Swiss drugmaker Roche has struck an exclusive global licensing deal with Inovio Pharmaceuticals to develop vaccines to fight cancer and hepatitis B. Under Tuesday's deal, Roche will pay $10 million up front, with development and commercial milestones of up to $412.5 million for exclusive access to Inovio's DNA-based vaccines INO-5150 for prostate cancer and INO-1800 for hepatitis B.Inovio will also be entitled to up to double-digit tiered royalties on product sales.There is growing excitement around a new wave of so-called immunotherapy treatments, which tap the power of the immune system to fight cancer and could have the potential to transform some cancers into something akin to a chronic disease.In May, Roche announced positive results from clinical trials for its experimental drug to boost the immune system to target cancer.
Inovio Pharmaceuticals, Inc. is engaged in the development of a new generation of vaccines, called synthetic vaccines, focused on cancers and infectious diseases. Shares of INO remained unchanged at $2.22. In the past year, the shares have traded as low as $0.44 and as high as $3.03. On average, 8791930 shares of INO exchange hands on a given day and today's volume is recorded at 8525.
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