Lion Biotechnologies (OTCQB:LBIO -7.1%) enters into a license agreement with the H. Lee Moffitt Cancer Center and Research Institute for exclusive rights to two patent-pending technologies related to methods for improving tumor-infiltrating lymphocytes for adoptive cell therapy. The license applies to all cancers and extends until the expiration of the last patent pertaining to the technologies or 20 years after the effective date of the license agreement.
The company is developing cancer immunotherapies based on tumor-infiltrating lymphocytes.
Under the terms of the agreement, Moffitt will receive an upfront licensing fee, development-related milestone payments and low single-digit royalties on commercial sales of products based on the technologies. Specific financial terms are not disclosed.