MultiCell Technologies Inc (MCET)

[TPX]

OXS-2175 / MultiCell Technologies, Inc.
Drug Names(s): OXS 2175, OXS2175

Description: OXS-2175 is a small molecule therapeutic candidate. In in vitro and in vivo models of triple-negative breast cancer, OXS-2175 demonstrated the ability to inhibit metastasis. Oxis Biotech is investigating OXS-2175 formulated as an infusible therapy, and as part of an ADC infusible therapy for the treatment of triple-negative breast cancer.

Deal Structure: MultiCell and Oxis
In March 2015, MultiCell Immunotherapeutics announced it has signed a research & development and product license agreement with Oxis Biotech (OXIS), to create three novel antibody-drug conjugates (ADCs) containing OXIS' lead drug candidates using MCIT's proprietary ADC platform technology.

Under the terms of the agreement, OXIS paid MCIT a license fee of $500,000, and will reimburse MCIT up to $1.125 million in development costs for the three ADC product candidates. Oxis will also pay up to $12.75 million in clinical development milestones, and was granted an option to purchase manufacturing rights to the three ADCs upon payment of an additional $10 million. OXIS was also granted a worldwide exclusive license to sell the three ADC product candidates, and will pay a royalty of 3% of net yearly sales. MCIT retained all rights to its ADC platform for all therapeutic indications, and is free to pursue its own drug development programs and to partner...See full deal structure in Biomedtracker

Partners: Oxis International, Inc.

http://drugprofiles.informa.com/drug_profiles/26168-oxs-2175