A leap forward for Advaxis following agreement with Sellas (immunotherapy)

Advaxis sharply rose by 6% soon after Wall Street opened, probably because just before the opening it had announced it had granted Sellas Life Sciences a license to use Lm-based antigen delivery technology to develop a novel cancer immunotherapy agent in combination with Sellas’ WT1 therapy galinpepimut-S. Galinpepimut-S has demonstrated highly positive phase 2 clinical results in treating acute myeloid leukemia and myeloma. Specifically, under the terms of the agreement, Advaxis will conduct all pre-clinical activities, while Sellas will be responsible for clinical trials and for a possible commercialization. Sellas will pay Advaxis $358m, in addition to royalties of approximately 5% on net sales, if certain regulatory and commercial milestones are met. (Source Advaxis)