Neopharm, Prima BioMed deal
Prima entered into a binding term sheet to grant Neopharm an exclusive license to market Prima's CVac in Israel and the Palestinian Authority. The companies expect to enter a final deal within 90 days of the Nov. 6 term sheet. Prima will receive a "small" upfront payment and is eligible for development milestones. Neopharm will reimburse Prima for commercial manufacturing costs of CVac, and the partners will split net profits from CVac sales in the territories.
In September, Prima suspended enrollment in the Phase II/III CANVAS (CAN-004) trial evaluating CVac as maintenance treatment of epithelial ovarian, primary peritoneal or fallopian tube cancer patients in complete remission. Prima said it will amend the CANVAS trial to be a Phase II trial to evaluate the product as maintenance treatment in 210 patients with platinum-sensitive, epithelial ovarian cancer who achieved remission after second-line platinum-based treatment. The company will not enroll additional first-remission ovarian cancer patients into the amended CANVAS and will discontinue developing CVac for triple-negative breast cancer and colorectal cancer. The 76 patients with first-remission ovarian cancer enrolled in CANVAS will be allowed to continue CVac treatment and will be analyzed separately from the second-remission cohort. ...