Cellular Bio acquires rights to cancer vaccine for lung cancer

• Cellular Biomedicine (NASDAQ:CBMG) acquires the exclusive rights to CD40LGVAX, a cancer therapeutic vaccine that has shown potential efficacy for the treatment on non-small cell lung cancer (NSCLC), the most prevalent form of lung cancer. Under the terms of the agreement with the University of South Florida, the company will pay an upfront fee of $2.5M in cash plus $1.75M in common stock and up to ~$25M in milestones and royalties.
• CD40LGVAX is a vaccine in which irradiated allogeneic lung adenocarcinoma cells are combined with bystander cell lines that can activate dendritic cells, accessory cells that process antigen material and present it on the cell surface to the immune system's T cells.
• The inventor of CD40LGVAX, Dr. Scott Antonia, M.D., Ph.D., at the University of South Florida, intends to conduct a three-patient lead-in study of CD40LGVAX combined with Bristol-Myers Squibb's (NYSE:BMY) PD-1 inhibitor Opdivo (nivolumab) in patients with NSCLC. A randomized Phase 2 trial will follow. Both studies are expected to commence in H2.