Evotec inks license agreement with J&J; Oncolytic virus biotech prices $15M IPO
Drug discovery and development player Evotec entered another licensing deal with Big Pharma — this time with J&J’s Janssen.
The companies put out word that they entered into a strategic collaboration and license agreement with each other that focuses on targeted immune-based cancer therapies, to be commercialized by Janssen.
According to a statement, the collaboration will hinge on Evotec’s integrated drug discovery and manufacturing capabilities. During the pre-clinical R&D phase, the companies will collaborate closely — and then Janssen will take on full responsibility for both clinical development and commercialization.
That said, Evotec gets an undisclosed payment upfront and is entitled to both research and commercial milestones worth more than $350 million, plus tiered royalties.
It’s not Evotec’s first alliance with Big Pharma, as Evotec had a deal with Bristol Myers Squibb for a neurodegeneration candidate. Bristol Myers exercised its option in 2021, paying Evotec $20 million and taking on any further development.
Genelux nabs $15 million IPO after initiating PhIII
A small oncology biotech sold 2.5 million shares at $6 apiece to kick off its time in the public market.
The quiet, San Diego-based biotech founded in 2001 has been developing oncolytic viral immunotherapies. Its lead candidate, called Olvi-Vec and a modified strain of the vaccinia virus, met a pre-established endpoint in a Phase II trial for patients with platinum-resistant/refractory ovarian cancer.
Now, the biotech has started up a Phase III trial. A statement said that the trial officially launched in the second quarter of 2022, and began enrollment in Q3.
The company will be trading under the ticker $GNLX.
CytomX triggers $5M milestone payment from Astellas
CytomX Therapeutics has a new update on its previous deal with Astellas.
The company put out word that it reached a milestone for a clinical candidate, which nets CytomX $5 million from Astellas. The two are still collaborating on additional molecules that CytomX can get more milestones from.
This collaboration is centered around T cell bispecifics, which got kicked off back in 2020 thanks to Astellas starting things off with $80 million upfront. The deal at the time also allowed for $1.6 billion in milestones for a number of targets — and gave CytomX the option to co-fund part of the clinical development for several programs in exchange for profit-share or co-commercialization.