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Inovio grants ApolloBio China rights to HPV candidate

February 13, 2017 10:25 PM UTC

Inovio Pharmaceuticals Inc. (NASDAQ:INO) granted ApolloBio Corp. (NEEQ:430187) rights in Greater China to vaccine VGX-3100 to treat or prevent pre-cancerous infections and dysplasias tied to HPV. Inovio spokesperson Jeff Richardson told BioCentury the company expects to start a Phase III trial of the candidate this half, once a clinical hold is lifted.

Inovio is to receive $3 million up front and is eligible for a $12 million milestone tied to FDA lifting the clinical hold. It is eligible for $20 million in additional regulatory milestones, plus double-digit royalties. ApolloBio is also to invest up to $35 million in Inovio by purchasing shares at a price to be determined by a weighted average during a period before and after the hold is lifted. The equity investment will be capped to prevent ApolloBio from becoming Inovio's largest shareholder...

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