Inovio, ApolloBio amend VGX-3100 deal

Inovio Pharmaceuticals Inc. (NASDAQ:INO) and ApolloBio Corp. (NEEQ:430187) amended a deal granting 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 (see BioCentury, Feb. 16, 2017).

Under the new deal, Inovio will receive an upfront payment of $23 million, up from $15 million, and ApolloBio will no longer have the right to purchase Inovio stock. ApolloBio gains an option to license Korean rights to the compound. Inovio is still eligible for $20 million in milestones, plus double-digit tiered royalties. The partners expect the amended deal to close this quarter...