Dec. 7, 2017
Generex Biotechnology announced that its wholly-owned subsidiary, Antigen Express, has entered into a License and Research Agreement with Shenzhen BioScien Pharmaceuticals Co. Ltd. to develop and commercialize the Antigen Express AE37 immunotherapeutic vaccine for prostate cancer in China (including Taiwan, Hong Kong, and Macau).
A previously completed Phase I study of the vaccine conducted by Antigen Express in patients with prostate cancer demonstrated robust, long-term, and specific activation of cancer-fighting T cells in immunized patients.
Shenzhen BioScien will pay Generex a non-refundable, up-front license fee of $700,000 USD. Under the Agreement, Shenzhen BioScien will also make milestone payments to Generex of $1 million each upon completion of the Phase II and Phase III clinical studies of the vaccine as well as a milestone payment of $2 million upon regulatory approval of the vaccine in China. In addition, Generex will receive 10% royalty payments on net sales of the product in China.