AstraZeneca's Medimmune Terminates DNA Cancer Vaccine Program With Inovio

MedImmune Limited, a unit of AstraZeneca Plc AZN, has notified Inovio Pharmaceuticals Inc INO to terminate the DNA cancer vaccine development program agreement.
Under the agreement, MedImmune acquired exclusive rights to INO-3112 immunotherapy, renamed MEDI0457, targeting cancers caused by human papillomavirus types 16 and 18.
Inovio has now regained the rights to INO-3112 and is no longer eligible to receive future milestones or royalties.
MedImmune is currently conducting a Phase 2 trial of MEDI0457 in head and neck squamous cell carcinomas and plans to complete the clinical study report by the end of 2022.
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Price Action: INO shares are up 0.84% at $7.20, while AZN shares are down 0.30% at $62.19 during the premarket session on the last check Monday.