Australia-based Prima BioMed (Prima) has granted an exclusive license to Neopharm Group (Neopharm) to market and sell CVac, its personalised immunocellular therapeutic product, in Israel and Palestine.
CVac is currently under investigation for the treatment of epithelial ovarian cancer and the final agreement is scheduled for within 90 days.
As part of the deal, Neopharm will repay Prima for commercial manufacturing costs of CVac and later both the firms will share net profits from CVac sales in the licensed territory.
In addition, Prima will also receive small up-front and development milestone payments under the agreement.
Prima CEO Matthew Lehman said the first corporate partnership for CVac with Neopharm represents the company’s commercial potential to successfully develop cell based immunotherapies for cancer.
"Neopharm is among the largest and most substantial corporations operating across the Israeli healthcare sector," Lehman said.
"Neopharm’s expertise and strengths in marketing of groundbreaking pharmaceuticals and biological therapies, and in particular oncology treatments, will enable us to successfully penetrate to the Israeli market."
Neopharm chairman and CEO David Fuhrer said: "We see CVac as an excellent addition to our group’s growing portfolio of innovative products."
Prima BioMed’s personalised immunocellular therapy, CVac is a vaccine therapy treatment for ovarian cancer sufferers that is administered post-surgery and post-chemotherapy to delay a relapse and control the metastases of the cancer.
It is a cancer vaccine product consisting of an adjuvant, mannan, attached to a tumour cell surface protein, mucin 1 and is administered as intradermal injection.
CVac targets mucin 1 overexpressing cancer cells, and is currently in late-phase trials for the treatment of epithelial ovarian cancer in remission.
Prima develops personalised immunocellular therapeutic products for the treatment of cancer and leverages its technology and expertise to bring new treatment options to market for patients.
Image: Micrograph of serous carcinoma, a type of ovarian cancer, diagnosed in peritoneal fluid. Photo: courtesy of Nephron.