French Biotech Signs License Agreement with LG Chem for Lung Cancer Vaccine
PDC*line Pharma has entered into a licensing agreement with LG Chem to develop a lung cancer vaccine in Asia.
PDC*line Pharma, a French biotech, has announced in a March 20, 2019 press release that it has entered into a licensing agreement with LG Chem, a Korean pharmaceutical company, to develop a lung cancer vaccine in Asia.
As per the terms of the licensing agreement, LG Chem will have full rights to develop and commercialize PDC*line’s drug candidate (PDC*lung) in South Korea with an exclusive option for other Asian countries. PDC*lung constitutes a proprietary cell line of plasmacytoid dendritic cells loaded with HLA-A2 restricted peptides derived from six shared tumor antigens.
PDC*line will be eligible for upfront and near-term milestone payments, in addition to longer-term clinical development and regulatory milestones that are expected to total up to EUR108 million (approximately $123 million). Furthermore, PDC*line will continue to develop its drug candidate in the European Union, the United States and global markets outside of Asia and will receive royalties on net sales of the licensed product in LG Chem’s territories.
“We are very pleased to co-operate with LG Chem and to start the development of our PDC*lung cancer vaccine in Asia,” said Eric Halioua, president & CEO of PDC*line Pharma, in the press release. “This licensing agreement is a great opportunity for PDC*line Pharma to expand the scope of its immuno-oncology clinical programs and bring our technology to numerous patients around the world. Furthermore, the agreement with LG-Chem Life Sciences Company, a leading pharmaceutical company in Korea, is a major endorsement for our unique PDC*line approach and its potential.”
“We are delighted to start this strategic collaboration with PDC*line Pharma, a great partnership to further expand LG Chem’s cell-based cancer immunotherapy portfolio,” added Jeewoong Son, president of LG-Chem Life Sciences Company. “PDC*line Pharma’s technology is backed by cutting-edge science, and we believe we can extend its reach by bringing this novel therapy to a greater number of cancer patients.”
Source:
PDC*line
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