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July 29, 2014
07:48 EDTADXSAdvaxis, University of Pennsylvania restructure license agreement
Advaxis and the University of Pennsylvania signed an amendment to restructure their 2002 Exclusive License, which relates to Advaxis' proprietary Listeria monocytogenes Lm-LLO cancer immunotherapy technology. The restructured agreement eliminates a milestone payment due upon the commencement of a Phase 3 clinical trial in humans and modifies milestone payments relating to first regulatory approval which Advaxis would owe to Penn. In exchange, Penn will receive an increased royalty rate on net sales, as well as enhanced milestone payments from Advaxis when cumulative global sales of between $250M and $2B are reached. The amended agreement allows Advaxis to more fully utilize its financial resources on the current clinical development of its Lm-LLO cancer immunotherapy technology and it provides Penn with enhanced post-commercialization financial terms.
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August 26, 2015
08:05 EDTADXSAdvaxis enters licensing agreement with Knight Therapeutics
Advaxis announced that the company has entered into a licensing agreement with Knight Therapeutics to commercialize in Canada Advaxis's product portfolio including its three lead drug candidates: axalimogene filolisbac for human papilloma virus, or HPV,-associated cancers, ADXS-PSA for prostate cancer and ADXS-HER2 for HER2 expressing solid tumors. In connection with the licensing agreement, Knight is purchasing directly from Advaxis 359,454 shares at $13.91 per share, which represents a 7% premium to the price of Advaxis's common stock at market close on August 25. In addition, Sectoral Asset Management, a leading Canadian-based global healthcare investment advisor, is purchasing 1.44M shares at $13.91 per share directly from Advaxis on behalf of its clients. The combined gross proceeds to Advaxis from these direct investments is $25M.
August 20, 2015
09:23 EDTADXSAdvaxis, MedImmune begin enrollment in axalimogene filolisbac Phase I/II study
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