biotechnology-drugs
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10 August 2016Americas

Amgen and Advaxis agree $40m cancer treatment deal

Amgen has entered into a global agreement with Advaxis, allowing for the development and commercialisation of ADXS-NEO, a preclinical cancer immunotherapy treatment.

The treatment, made by Advaxis, is used to activate a patient’s immune system to respond against mutations contained in and identified from individual patients’ tumours.

Amgen will make an upfront payment $40 million and will also buy $25 million worth of Advaxis stock.

The development of the treatment will be led by Advaxis, which will retain manufacturing responsibilities. The company will also be granted development, regulatory and sales milestone payments of up to $475 million.

Sean Harper, executive vice president of research and development at Amgen, said: “Amgen's collaboration with Advaxis leverages and enhances our development and commercialisation expertise in novel immuno-oncology treatments.”

Daniel O'Connor, president and chief executive officer at Advaxis, added: “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.”

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