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Oncolytics Biotech® Inc. and Adlai Nortye Enter into USD $86.6 Million Regional Licensing Agreement for REOLYSIN®
Oncolytics Biotech® Inc. and Adlai Nortye Enter into USD $86.6 Million Regional Licen...
About this update from Oncolytics Biotech Inc.
[{"type":"text","content":"\n\n\n\nOncolytics Biotech® Inc. and Adlai Nortye Enter into USD $86.6 Million Regional Licensing Agreement for REOLYSIN®\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCALGARY and SAN DIEGO, CA, Nov. 16, 2017\n\n\n\n\nRegional license covers China, Hong Kong, Macau, Singapore, South Korea and Taiwan\nOncolytics to receive upfront, licensing fee and milestone payments to support phase 3 registration study of USD $21.2 million, and eligible to receive up to an additional USD $65.4 million upon achievement of clinical, regulatory and commercialization milestones\nUpon Adlai Nortye's commercialization of REOLYSIN®, Oncolytics is eligible to receive double digit royalty payments\nManagement to host webcast and conference call tomorrow, November 17, 2017 at 8:30 am ET for Analysts and Institutional Investors\n\n\n\nCALGARY and SAN DIEGO, CA, Nov. 16, 2017 /CNW/ - Oncolytics Biotech® Inc. (TSX: ONC) (OTCQX: ONCYF) (Oncolytics or the Company), a biotech company developing REOLYSIN®, an intravenously delivered immuno-oncolytic virus that activates the innate and adaptive immune systems to turn 'cold' tumors 'hot', today announced that it has entered into a Regional Licensing Agreement (The Agreement) with Adlai Nortye (Adlai), a biopharmaceutical company focused on discovering and developing important new treatments for cancer and metabolic diseases. Under the terms of The Agreement, Adlai will have exclusive development and commercialization rights to REOLYSIN in China, Hong Kong, Macau, Singapore, South Korea and Taiwan. \n\n\"Adlai Nortye has a top-tier clinical, regulatory and commercial team with global experience, that will be able to gain significant regional exposure for REOLYSIN upon potential approval, following our phase 3 study in HR+/HER2- metastatic breast cancer,\" said Dr. Matt Coffey, President and CEO of Oncolytics Biotech. \"China is the fastest growing pharmaceutical market in the world, and we are delighted to be able to unlock value for Oncolytics and our shareholders through this regional partnership. We're very...