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Oncolytics Biotech and Adlai Nortye Enter into US$86.6 Million Regional Licensing Agreement

Nov. 16, 2017

Oncolytics Biotech, a biotech company developing REOLYSIN®, an intravenously delivered immuno-oncolytic virus that activates the innate and adaptive immune systems to turn 'cold' tumors 'hot', announced that it has entered into a regional licensing agreement with China-based Adlai Nortye, a biopharmaceutical company. 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.

Oncolytics is to receive upfront, licensing and milestone payments to support a phase 3 registration study of USD $21.2 million, and will be eligible to receive up to U$65.4 million upon achieving clinical, regulatory and commercialization milestones as well as double-digit royalty payments.