- Licensed territories are extended to the developed world major pharmaceutical markets
- For the new territoriesGenkyotexis eligible to receive up to€100 million including an upfront payment, development and commercial milestones bringing the overall agreement to approximately €150 million*
- Serum Institute of India to develop a pertussis vaccine using the Vaxiclaseplatform
Genkyotex (Euronext Paris & Brussels:FR00011790542 – GKTX), a biopharmaceutical company and the leader in NOX therapies, today announces that it has expanded the license agreement for its Vaxiclaseplatform with the Serum Institute of India (SIIPL), the world’s largest vaccine manufacturer, to include the developed world in their addressable markets. The initial agreement, signed in 2015, covered emerging pharmaceutical markets.
Since the beginning of the agreement, Genkyotexhas received a total of $1.3millionin upfront payment and from the achievement of a pre-specified development milestone in November 2016. According to the terms of the initial agreement, Genkyotex is eligible to receive $57 million. Following the expansion of the agreement to the developed world territories, Genkyotexbecomes eligible to receive additional €100 million bringing the overall agreement to approximately €150million* in upfront payment, development and commercial milestones. Genkyotex is also eligible to receive single-digit royalties on sales. The new territories covered in the expanded agreement include the U.S., Canada, EU member states, and the UK. Vaxiclase is a technology platform ideally suited for immunotherapies against multiple infectious diseases or cancers andSIIPL is utilizing it to develop a pertussis vaccine.
“In the past three years since our initial agreement, we are increasingly confident in the potential for the Vaxiclase platform to play an important role in the development of a pertussis vaccine,” said Adar C. Poonawalla, CEO and Executive Director of SIIPL. “We look forward to expand our agreement to the developed world, which has become a key strategic priority for our company. Pertussis remains an indication with significant unmet needs worldwide, and we believe a substantial market opportunity exists for an improved acellular pertussis component-based combination vaccine.”
“We are extremely pleased to further monetize our Vaxiclase technology,” said Elias Papatheodorou, CEO of Genkyotex. “As SIIPL is the world’s largest vaccine manufacturer, we view our relationship as a validation of this platform and its significant potential for the development of various immunotherapies. The SIIPL pertussis vaccine is currently in clinical trial application-enabling pre-clinical studies and we look forward to its continued advancement.”