Dx&Vx has signed its first-ever global out-licensing agreement since its establishment.
DXVX announced that it has entered into a co-development and license agreement valued at approximately USD 220 million with a U.S.-based biotech company for its mRNA-based cancer vaccine. Revenue sharing post-commercialization will be handled separately.
Through this agreement, DXVX will grant its partner exclusive global rights to its patented mRNA-based cancer vaccine. The partner company will pay DXVX a total of approximately USD 220 million in development milestones and, following commercialization, sales-based milestone payments exceeding 10% of cumulative sales over a period of more than 15 years. Given the vast size and growth potential of the global oncology and cancer vaccine markets and the expected market share, DXVX projects that post-commercialization sales milestone revenues could exceed USD 940 million.
The mRNA-based cancer vaccine covered under this license agreement is part of DXVX's proprietary pipeline and has demonstrated superior anticancer efficacy in preclinical animal studies compared to global competitors currently undergoing Phase 2b trials. DXVX has completed patent applications for the compound. In addition, the candidate utilizes DXVX's proprietary long-term ambient storage mRNA vaccine platform technology, securing a technological edge over competitors.
The partnering U.S. biotech company possesses RNA-based drug development and diverse platform technologies. Following their first partnering meeting at the JP Morgan Healthcare Conference and Biotech Showcase this January, the partner recognized DXVX's technological strengths, leading to the rapid conclusion of this agreement.
Kevin Kwon, CEO of DXVX, stated, "We are very pleased to sign our first global out-licensing agreement. We sincerely appreciate our partner's recognition of our technological strength," adding, "We believe this agreement will positively influence additional licensing discussions currently underway for other pipelines."
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