NeoStem (NBS) has signed a licensing agreement with China-based Cellular Biomedicine Group (CBMG) to begin a Phase 2 trial of NeoStem's DC-TC immunotherapy in patients with late-stage liver cancer.
NeoStem will receive $1M when the first patient is enrolled in the study - which will take place in China - and up to $30M in milestone fees over the lifetime of the agreement, as well as royalties and sub-license payments. CBMG will also pay for the trial and take responsibility for clinical, marketing and commercialization activities in China.
NeoStem has also reached an agreement with the FDA to start Phase III trials of its Melapuldencel-T treatment for metastatic melanoma. (PR)