Immunomic Therapeutics and Astellas Pharma have entered into an exclusive license agreement for Japan to develop and commercialize JRC2-LAMP-vax, Immunomic Therapeutics' vaccine designed to treat allergies induced by Japanese red cedar pollen.
The companies expect to initiate a Phase 1 trial of JRC2-LAMP-vax in Japan as soon as it is ready.
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Astellas is responsible for developing and commercializing JRC2-LAMP-vax in Japan, where Japanese red cedar pollinosis is endemic.
Immunomic Therapeutics will receive $15 million upon the execution of the agreement.
Immunomic Therapeutics potentially will also receive up to $55 million in total development and regulatory milestone and technology transfer payments, as well as tiered double-digit royalties on net sales of the product.
Astellas will fund clinical trial development costs and supporting development expenses for Japan.
Immunomic Therapeutics also granted Astellas an exclusive option to negotiate a license for additional LAMP-vax DNA vaccines to treat allergy indications other than Japanese red cedar pollinosis in Japan.
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