Dive Brief:
- Inovio Pharmaceuticals Inc. has squeezed another $8 million in upfront cash from Chinese company ApolloBio Corp., reworking a deal from earlier in the year and giving ApolloBio exclusive rights to Inovio's HPV immunotherapy within Greater China.
- Under the amended deal, Inovio could receive up to $20 million in milestone payments, and an equity option previously extended to ApolloBio in the original Feb. 13 deal will be nixed.
- Inovio's drug, called VGX-3100, is aimed at treating precancers caused by human papillomavirus (HPV) and is in Phase 3 testing in the U.S.
Dive Insight:
Inovio believes VGX-3100 can fill a niche as a non-surgical treatment for HPV-associated high grade cervical dysplasia, which frequently progresses to cancer. The agreement with ApolloBio Corporation covers use development of the drug as a treatment and/or prevention of pre-cancerous HPV infections and HPV-driven dysplasias, excluding HPV-driven cancers.
"ApolloBio is an excellent partner that brings significant capabilities and expertise relating to product development, the Chinese regulatory landscape, and the healthcare marketplace in China," said Inovio CEO J. Joseph Kim in a statement. Inovio expects the deal to close sometime in the first quarter of 2018.
The modified collaboration with ApolloBio Corporation not only provides Inovio with non-dilutive cash upfront with no equity provisions, it also has potential to accelerate VGX-3100 R&D efforts by allowing Inovio to access clinical study patients in China.
VGX-3100 is in a pivotal Phase 3 trial in the treatment of cervical dysplasia. A post-hoc analysis of data from the Phase 2b trial found biomarker profiles that could predict the effectiveness of the treatment. A randomized open-label Phase 2 trial is also under way in women with HPV-related vulvar high-grade intraepithelial lesions.