Feb 27 2007, 11:39 AM EST
GEN News Highlights
Vaccinex entered into a collaboration with Teva Pharmaceutical Industries to develop and commercialize VX15, a human antibody discovered by Vaccinex. VX15 has the potential to improve efficacy in treating multiple sclerosis (MS) by both suppressing the body’s autoimmune response and blocking damage to the central nervous system, Vaccinex reports.
According to the terms of the agreement, Teva will make an equity investment in Vaccinex and pay undisclosed fees, development milestones, and royalties on product sales to acquire an exclusive license for the development and commercialization of VX15 in MS and other disease indications. Vaccinex retains rights to oncology indications and will continue to conduct all preclinical development activities, which will be funded by Teva. Teva will have an option to participate as a co-development partner in oncology after Vaccinex completes Phase I trials.
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