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Replies to post #231869 on Biotech Values
05/03/20 9:09 PM
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05/27/20 6:29 PM
NantKwest…and ImmunityBio, a privately-held immunotherapy company, today announced ImmunityBio has been selected to participate in Operation Warp Speed, a new national program aiming to provide substantial quantities of safe, effective vaccine for Americans by January 2021.
…On May 22, 2020, NantKwest and ImmunityBio entered into a binding term sheet to pursue collaborative joint development, manufacturing, and marketing of certain COVID-19 therapeutics and vaccines. The parties agree to jointly develop haNK, mesenchymal stem cells (MSC), adenovirus constructs (Ad5), and N-803 for the prevention and treatment of SAR-CoV-2 viral infections and associated conditions, including COVID-19. NantKwest will contribute the haNK, MSC, and certain of its manufacturing capabilities, and ImmunityBio will contribute Ad5, IL-15, and certain manufacturing equipment.
…Under the terms of the agreement, the parties will share equally in all costs relating to developing, manufacturing, and marketing of the product candidates globally, and the global net profits from the collaboration products will be shared 60%/40% in favor of the party contributing the product on which the sales are based. All net profits from sales of combined collaboration products will be shared equally. This collaboration will be supervised by joint committees, comprised of an equal number of representatives from both companies.
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