September 29, 2021 -- Clinical-stage immunotherapy company Genelux and Shanghai-based Newsoara BioPharma have inked a collaboration and license agreement for the development and marketing of oncolytic immunotherapies, including Genelux's Olvi-Vec.
Olvi-Vec is Genelux's proprietary, nonpathogenic oncolytic vaccinia virus. Virus-mediated oncolysis results in immunogenic cell death and triggers immune activation and memory for long-term immunotherapy against cancer. The therapy has been successfully administered to over 150 patients in clinical trials.
Under the terms of the agreement, Newsoara will have exclusive license to Olvi-Vec plus Genelux's oncolytic virus library in mainland China, Hong Kong, Macau, and Taiwan. Genelux will be eligible to receive up to $171.5 million in upfront and milestone payments for products Newsoara develops, as well as royalties, the two firms said.
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