Advaxis, FusionVax deal

The companies signed a memorandum of understanding under which Advaxis will grant FusionVax exclusive, Asian rights, excluding India, to ADXS-HPV. Advaxis will receive an upfront payment and an annual licensing fee. Advaxis is also eligible for milestones and royalties. FusionVax will receive an amount of Advaxis stock equal to the upfront payment. Additionally, FusionVax will receive a net sales annual royalty on ADXS-HPV in the U.S. of less than 1% in exchange for conducting clinical trials and pursuing commercialization of the live Listeria monocytogenes-based immunotherapy expressing HPV type 16 E7. The companies are looking to close the deal in six months. ...