Amgen and Advaxis this week announced the finalization of a worldwide agreement for the development and commercialization of Advaxis’ ADXS-NEO, a novel, preclinical investigational immunotherapy developed for the treatment of cancer.
The collaboration unites Amgen's development expertise in immuno-oncology with Addaxes' MINE (My Immunotherapy Neo-Epitopes) program, which seeks to develop a customized approach to cancer treatment.
Under the terms of the agreement, Amgen receives exclusive worldwide rights to develop and commercialize ADXS-NEO. Amgen will make an upfront payment to Advaxis of $40 million and purchase $25 million of Advaxis common stock.
"Amgen is a pioneer in the science of using living
cells to develop biologic medicines, making them an incredibly strong partner
to develop and commercialize Advaxis' MINE," Advaxis President and CEO
Daniel J. O’Connor said. "With Amgen's resources, worldwide reach and a
culture that embraces science and innovation, we are positioned to accelerate
the clinical development program for ADXS-NEO to improve the lives of those who
suffer from cancer."
The medication is designed to activate the immune system within the patient to respond and fight off unique mutations, also known as neoepitopes, that are found in the tumors of individual patients. The partnership will benefit from the developmental expertise in immune-oncology from Amgen and Advaxis’ MINE program, a customized cancer treatment.
"Amgen's collaboration with Advaxis leverages and enhances our development and commercialization expertise in novel immuno-oncology treatments," EVP of Amgen Research and Development Dr. Sean E. Harper said. "We look forward to partnering with Advaxis to advance this highly targeted and patient-specific treatment option for patients."
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