ImmunoCellular Therapeutics, Ltd., a Los Angeles-based clinical-stage company that is developing immune based therapies for the treatment of brain and other cancers, recently announced that the company has entered into a research and license option agreement regarding its ICT-69 antibody with Roche Group (SWX: ROG.VX; RO.S, OTCQX: RHHBY). As one of the worldâ€™s leading research-focused healthcare groups in the fields of pharmaceuticals and diagnostics, Roche Group will pay royalties to ImmunoCellular Therapeutics based on the companyâ€™s worldwide sales of ICT-69 products.
Under the terms of the agreement, ImmunoCellular Therapeutics will license to Roche the rights to investigate the potential of ICT-69 in the diagnosis and treatment of multiple myeloma and ovarian cancer. ICT-69 is one of several monoclonal antibodies currently being developed for multiple cancer indications by ImmunoCellular Therapeutics. Following the evaluation period, Roche has the right to acquire for an option exercise payment a commercial license for ICT-69 from ImmunoCellular Therapeutics, resulting in total payments of up to $32 million.
Manish Singh, Ph.D., president and chief executive officer of ImmunoCellular Therapeutics, stated, â€œWe are extremely pleased to have generated the interest of such a significant player in the international healthcare market.â€ He concluded, â€œWe believe that Rocheâ€™s interest serves as a validation of our strong portfolio of antibody therapies designed to diagnose and treat cancers and may increase our ability to attract further partnership activities going forward.â€