Vaccinex Rallies After Announcing Multi-Project Pact Using Its Antibody Discovery Platform

Vaccinex Inc (NASDAQ: VCNX) jumps premarket in reaction to multi-project deals signed with two undisclosed prominent pharmaceutical companies, utilizing Vaccinex's ActivMAb, antibody discovery, and novel viral display platform for antibody discovery against complex antigens such as GPCRs and ion channels.
The financial terms of the deals were not disclosed.
ActivMAb was developed by Vaccinex and is a proprietary mammalian cell-based antibody discovery platform. Applications include discovering antibodies specific for complex membrane antigens and optimized developability and protein optimization for expression and activity.
Price Action: VCNX climbs 50.9% at $4.27 in premarket trading on last check Friday.