...noch kleine Company...ausserdem zeigt es das Potential für weitere
KANSAS CITY, Kan., and PRINCETON, N.J., March 19, 2014 /PRNewswire/ -- Aratana Therapeutics, Inc. (PETX), a pet therapeutics company focused on the licensing, development and commercialization of innovative biopharmaceutical products for cats, dogs and other companion animals, and Advaxis, Inc. (ADXS), a biotechnology company developing the next generation of cancer immunotherapies, today announced a global licensing agreement for Advaxis' ADXS-cHER2 for the treatment of osteosarcoma in dogs and three additional cancer immunotherapy products for the treatment of three other types of cancer. Each of the four licensed products is based on Advaxis' platform immunotherapy technology, which Advaxis is developing for the treatment of human cancers on a global basis. Under the agreement, Aratana will have exclusive rights to develop and commercialize the licensed immunotherapies for pet health applications, and will focus initially on developing ADXS-cHER2 for osteosarcoma.
Under the agreement, Aratana made a one-time upfront payment to Advaxis of $1 million and an additional $1.5 million equity investment in Advaxis common stock and warrants. Aratana agreed to pay up to an additional $6 million in clinical and regulatory milestones for each of the four products, assuming approvals in both cats and dogs in both United States and the European Union. In addition, Aratana agreed to pay up to $28.5 million in commercial milestones. Upon regulatory approval and commercialization of the immunotherapies, Aratana agreed to pay Advaxis a tiered royalty ranging from mid-single digit to 10% on net sales.