ApolloBio, a Beijing company focused on cancer, has amended its year-old deal to acquire China rights to Inovio’s DNA immunotherapy aimed at pre-cancers caused by human papillomavirus (HPV). Under the new terms, ApolloBio will pay $23 million upfront (previously: $15 million) and $20 million (unchanged) in milestones, plus double-digit tiered royalties on sales. Also, ApolloBio will not purchase $35 million in Inovio stock. As before, the agreement gives ApolloBio the right to develop and commercialize VGX-3100 in greater China.
Source: China Biotoday
