Avalo Therapeutics, Apollo Therapeutics Ink Pact For Anti-IL-18 Antibody

  • Avalo Therapeutics Inc AVTX and Apollo Therapeutics Group Limited have entered into a worldwide, exclusive license agreement granting rights to Apollo to research, develop, manufacture, and commercialize AVTX-007 (camoteskimab), Avalo's anti-IL-18 monoclonal antibody product. 
  • Under the terms of the agreement, Apollo will assume responsibility for the future development of AVTX-007, including the ongoing clinical trial. 
  • Apollo will lead future clinical development in its selected therapeutic indications.
  • Avalo will receive $5 million of upfront fee and an additional approximately $10 million as consideration for transfer activities. 
  • Apollo will also pay Avalo up to $74 million of milestones and a royalty payment of a low single-digit percentage of annual net sales.
  • The AVTX-007 program was initially licensed to Avalo by MedImmune Limited, a subsidiary of AstraZeneca plc AZN.
  • Price Action: AVTX shares are up 5.56% at $3.80 during the market session on the last check Monday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: BiotechNewsPenny StocksHealth CareContractsMoversTrading IdeasGeneralBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!