Transgene to receive $8 million upfront option exercise payment
Conference call today on December 15, 2021, at 6:00 p.m. CET (12:00 p.m. ET) in English (details at the end of the release)
Strasbourg, France, December 15, 2021, 7:30 am CET – Transgene (Euronext Paris: TNG), a biotech company that designs and develops virus-based immunotherapeutics against cancer, announces that AstraZeneca (LSE/STO/Nasdaq: AZN) has exercised its first license option for an Invir.IO™ oncolytic virus (OV) developed from their on-going OV collaboration. The exercise of this option for an OV, integrating an undisclosed transgene, will result in Transgene receiving an $8 million payment from AstraZeneca. Transgene is also eligible to receive development, regulatory and sales-based milestones payments as well as a royalty based on future commercial sales.
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