LAWRENCEBURG, Indiana, July 9, 2012 /PRNewswire/ -- PDS Biotechnology Corporation announced today that they have entered into an exclusive worldwide licensing agreement with Merck KGaA, Darmstadt, Germany, for use of PDS Biotechnology's novel Versamune™ nanotechnology platform in two of Merck's investigational antigen-specific cancer immunotherapies currently in pre-clinical development. Merck obtains the rights to utilize the technology with two investigational antigen-specific cancer immunotherapies which are in pre-clinical development.
Under the terms of the licensing agreement, PDS Biotechnology Corporation will receive an undisclosed upfront payment in cash, as well as development milestone payments, and commercial and sales milestone payments. PDS Biotechnology Corporation will also receive royalties on sales of the products incorporating the technology.
Dr. Frank Bedu-Addo, Chief Executive of PDS Biotechnology Corporation said, "We are very pleased that Merck which is experienced in the clinical development of cancer immunotherapies would like to utilize the Versamune™ technology. For PDS Biotechnology Corporation, this deal is important since the company's business strategy is focused on a few strategic out-licensing or partnering deals at a preclinical or early clinical stage. This is the stage where companies will be seeking to enhance their pipelines by taking advantage of a new technology that has broad potential applications in clinical research into the treatment and prevention of cancer and infectious diseases."
About PDS Biotechnology Corporation and Versamune™
PDS Biotechnology Corporation is a privately held biotechnology company founded to exploit the newly discovered properties of specific synthetic positively charged (cationic) lipids to commercialize a new generation of immunotherapies and vaccines. The proprietary Versamune™ platform nanotechnology, when combined with specific cancer-associated molecules, has been demonstrated to lead to increased tumor regression rates compared to leading clinical adjuvants in pre-clinical cancer models (Cancer Immunology Immunotherapy, 2008, 57: (4) 517-530). The Versamune™ nanotechnology presents a giant step forward in the development of the next generation of immunotherapies. PDS Biotechnology Corporation's lead products are being developed to treat prevalent cancers such as cervical cancer, head and neck cancer and melanoma. The technology is also being applied to the development of vaccines which are designed to protect against pandemic diseases. Visit www.pdsbiotech.com for more information on Versamune™ and products in development.
SOURCE PDS Biotechnology Corporation