VAXIMM Announces Regional Development and Commercialization Agreement with China Medical System Holdings
- CMS gains exclusive rights to current VAXIMM pipeline and option for future programs for China and other Asian countries, ex-Japan
- VAXIMM to receive potential development and commercial milestone payments plus royalties on sales
- CMS to make an equity investment in VAXIMM
Basel (Switzerland) and Mannheim (Germany), September 20, 2018 – VAXIMM AG, a Swiss/German biotech company focused on developing oral T-cell immunotherapies, today announced the signing of a development and commercialization collaboration agreement with China Medical System Holdings Limited (CMS) (HKSE:0867).
VAXIMM will collaborate with CMS, which will have the full rights in China and other Asian countries (excluding Japan) to VAXIMM’s existing programs, enabling the development and commercialization of VAXIMM’s pipeline of oral cancer immunotherapy candidates in the region. The parties will coordinate and share data from their respective clinical studies. VAXIMM will also receive development and commercial milestones and royalties based on the achievement of sales milestones by CMS. In parallel with the agreement, CMS will make an equity investment in VAXIMM, as part of VAXIMM’s current Series B financing.
Dr. Thomas Hecht, Chairman of the Board of Directors of VAXIMM, said: “We are thrilled to have CMS as a partner for the important and growing Asian markets. China in particular has increased its focus on bringing new therapies to cancer patients, and it is critical to have a strong partner there, with the appropriate know-how and who can maximize the potential value of our programs. CMS has a solid track record of successfully in-licensing novel therapies and has a highly effective sales and marketing network in China. The equity investment, which CMS is making in VAXIMM, will enable us to advance our clinical development programs.”
Mr. Lam Kong, Chairman, Chief Executive and President of CMS, added: “I am excited by this opportunity to work with the VAXIMM team to drive forward the development of their drug candidates. I believe that VAXIMM’s platform offers a novel approach to developing oral cancer immunotherapies and look forward to driving the development and ultimately commercialization of their programs for China and elsewhere in Asia.”
Original Press Release.