For the third time in a period of just one week, AstraZeneca has struck a deal with another pharmaceutical company to secure its access to cancer fighting drugs.
The British-Swedish multinational pharmaceutical company based in London came up with an agreement with Inovio Pharmaceuticals Inc. for rights over an experimental immune system boosting drug.
AstraZeneca's Medimmune unit has agreed to pay as much as much $727.5 million for rights over a cancer vaccine that is still currently in its experimental phase. The vaccine is in early to mid-stage clinical trials for cervical, neck and head cancers with AstraZeneca shouldering all costs of development for the drug and Inovio being granted royalties on product sales.
The company's Medimmune unit will pay Pennsylvania-based Inovio $27.5 million up front and up to $700 million once the INO-3112 immunotherapy, which was designed to target cancers caused by human papillomavirus (HPV) types 16 and 18, reaches particular developments and commercial milestones. HPV is the most prevalent of sexually transmitted virus and is responsible for numerous pre-cancers and cancers.
On Monday, AstraZeneca said that its MedImmune biotech unit would conduct a study of INO-3112 in combination with other immunotherapy drugs. The company is on the lookout for drugs that it can combine with its stable immune oncology products that boost the immune system of the body to fight tumors.
INO-3112 works by producing killer T-cell responses that can destroy tumors driven by HPV 16 and HPV 18, which are responsible for over 70 percent of cervical precancers and cancers. Emerging evidence shows that the benefits from immune-oncology molecules can be bolstered when they are used along with cancer vaccines that produce tumor-specific T-cells.
AztraZeneca CEO Pascal Soriot said that combination therapies will boost the company's edge as it competes with Merck & Co., Bristol-Myers Squibb Co., and Roche Holdings AG in developing a new generation of cancer treatments.
Just last week AstraZeneca revealed its partnerships with Heptares Therapeutics and Mirati Therapeutics. AstraZeneca and Inovio likewise came up with an agreement to develop up to two more DNA based cancer vaccine products.
"INO-3112 is progressing, with positive interim data generated in an Inovio-initiated phase I study," said Inovio President and CEO J. Joseph Kim. "We appreciate MedImmune's recognition of our ability to activate best-in-class killer T-cells in vivo and look forward to working with them on this collaboration."
