HOOK

By Chris Wack

Hookipa Pharma Inc. said it entered into a strategic collaboration and license agreement with Roche Holding AG to develop HB-700 for KRAS-mutated cancers and a second undisclosed novel arenaviral immunotherapy.

Through the collaboration, Hookipa would conduct research and early clinical development through Phase 1b for HB-700, a novel investigational arenaviral immunotherapy for the treatment of KRAS-mutated cancers.

Upon the completion of the Phase 1b trial, Roche has the right to assume development responsibility and to commercialize licensed products across multiple indications upon approval. The agreement also includes an option for Roche to license a second arenaviral cancer immunotherapy.

Under the terms of the agreement, Hookipa would receive an upfront payment of $25 million. Roche would have the option to expand the initial collaboration by adding an additional product candidate, whereafter Hookipa would receive an additional $15 million payment at option exercise. Including this option payment, Hookipa is eligible for research, development and commercialization milestone-based payments for HB-700 and the additional product candidate totaling up to approximately $930 million.

Upon commercialization, Hookipa is eligible to receive tiered royalties of a high single-digit to mid-teens percentage on the worldwide net sales of HB-700 and the additional product candidate.

Hookipa shares were up 44%, to $1.74, in premarket trading.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

October 20, 2022 07:32 ET (11:32 GMT)

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