Specifically, the exclusive worldwide licensing deal covers City of Hope's OnCARlytics cell therapy technology, which tags cancer cells for CAR T-cell destruction, according to Imugene. Imugene will develop and commercialize the patents covering OnCARlytics -- also known as CF33-CD19 -- and pay license fees upfront, as well as annual maintenance fees that are creditable against future royalty payments. City of Hope will also be compensated for development milestones and commercial outcomes and will receive single-digit royalty payments and sublicensing fees.

In addition, Imugene signed a separate four-year sponsored research agreement with City of Hope to further develop the technology. A phase I trial for the combination immunotherapy is expected to begin in 2022.

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