Prima signs first licence deal for CVac

Prima Biomed (ASX:PRR) has finalised the terms for its first licensing deal for cancer treatment candidate CVac, signing an agreement with Israeli distributor Neopharm.

Under the terms of the deal, announced in November, Prima and Neopharm will split net profits from any CVac sales in Israel.

Prima will also receive reimbursement for the commercial manufacturing costs of CVac and small milestone payments over the commercialisation process.

“I am very pleased we were able to finalise our licence agreement with Neopharm, which is our first corporate partnership for CVac,” Prima CEO Matthew Lehman said. “Neopharm has gained a reputation for its ... performance marketing drugs manufactured by leading global companies.”

CVac is a personalised vaccine designed to stimulate the immune system to target and destroy tumours. It is derived from a patient’s own dendritic cells, treated with mucin 1 fused to mannan.

CVac is in phase II trials for the treatment of epithelial ovarian cancer in remission, and Prima is preparing to commence a pilot trial in resected pancreatic cancer.

Prima Biomed (ASX:PRR) shares were trading unchanged at $0.049 as of around 2 pm on Tuesday.