Lion Biotechnologies Obtains Exclusive License From NIH to Develop and Commercialize TIL in Bladder, Lung, Breast and HPV-Ass...
October 07 2015 - 8:01AM
Lion Biotechnologies (Nasdaq:LBIO), a biotechnology company that is
developing novel cancer immunotherapies based on tumor-infiltrating
lymphocytes (TIL), today announced that it has obtained an
exclusive, worldwide license from the National Institutes of Health
(NIH) to develop and commercialize TIL therapy in four additional
tumor indications. Under the agreement, the NIH has granted Lion
exclusive rights to certain patents to develop TIL in the treatment
of bladder, lung, breast and HPV-associated cancers, including
cervical and head and neck.
The agreement was executed as an amendment to Lion's existing
exclusive licensing agreement with the NIH for the development and
commercialization of TIL in the treatment of metastatic melanoma.
As consideration for the license, Lion will make an upfront payment
to the NIH, payable half within 60 days of closing and the balance
a year later. Additional milestone payments, which will vary
according to indication, will be based on completion of specific
clinical, regulatory and commercial milestones. The agreement also
calls for royalties to be payable to the NIH based on revenues, and
certain additional payments under different sublicense
scenarios.
"In addition to the efficacy previously reported in melanoma, we
believe that TIL therapy has the potential to demonstrate
significant clinical benefit in the treatment of many solid
tumors," said Elma Hawkins, PhD, Lion's president and chief
executive officer. "Having exclusivity in these additional
indications will enable us to further our development efforts in
other tumor types, with the goal of providing a new treatment
option for patients."
About Lion Biotechnologies
Lion Biotechnologies, Inc. is a clinical-stage biotechnology
company focused on the development of cancer immunotherapy products
for the treatment of various cancers. The company's lead product
candidate is an adoptive cell therapy using tumor-infiltrating
lymphocytes (TIL) for the treatment of patients with refractory
metastatic melanoma, and is based on a clinical Cooperative
Research and Development Agreement with the National Cancer
Institute. TIL therapy is also being evaluated in
physician-sponsored clinical trials at MD Anderson Cancer Center
and Moffitt Cancer Center. For more information, please
visit http://www.lionbio.com.
Forward Looking Statements
This press release contains certain forward-looking statements
that are subject to a number of risks and uncertainties described
in the Company's most recently filed quarterly report on Form 10-Q
and annual report on Form 10-K. Except as permitted by law, the
Company undertakes no obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
CONTACT: Investor Relations
The Trout Group
Elizabeth Broder
646-378-2945
Ebroder@troutgroup.com
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