Inovio, ApolloBio deal

Inovio granted ApolloBio exclusive rights to develop and commercialize VGX-3100 in Taiwan and China, including Hong Kong and Macau, to treat or prevent pre-cancerous infections and dysplasias tied to HPV. Inovio will receive $3 million up front and is eligible for a $12 million milestone tied to FDA lifting the clinical hold. It is eligible for up to $20 million in additional regulatory milestones, plus double-digit royalties. ApolloBio will be responsible for all development costs in the licensed territory. After three years, it may opt to expand the deal to include South Korea.

ApolloBio is 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...