BioSante, John P. Hussman Foundation deal

The foundation received exclusive, worldwide rights to BioSante's GVAX melanoma vaccine for $100,000. BioSante is eligible for up to $39 million in milestones and 15-33% of sublicense revenues, plus royalties. The Hussman Foundation has committed up to about $11 million in funding for clinical development through Phase II. GVAX melanoma vaccine is in preclinical testing, with a Phase I trial slated to begin within the next several months. ...