South Korean company Dx&Vx (DXVX) has entered into a co-development and license agreement valued at approximately $220m with a US-based biotech company for its mRNA-based cancer vaccine. Revenue sharing post-commercialisation will be handled separately.
Through the agreement, DXVX will grant its partner exclusive global rights to its patented mRNA-based cancer vaccine. Given the size and growth potential of the global oncology and cancer vaccine markets and the expected market share, DXVX projects post-commercialisation sales milestone revenues could exceed $940m.
Even after the out-licensing, DXVX will remain responsible for leading R&D activities necessary for commercialisation, including preclinical studies, phase 1–3 clinical trials, and production. The partner company will be responsible for global regulatory approvals and sales. Other specific terms remain confidential by mutual agreement.
The mRNA-based cancer vaccine covered under this license agreement is part of DXVX’s proprietary pipeline and has demonstrated superior anticancer efficacy in preclinical animal studies compared to global competitors currently undergoing phase 2b trials. DXVX has completed patent applications for the compound. In addition, the candidate utilizes DXVX’s proprietary long-term ambient storage mRNA vaccine platform technology, securing a technological edge over competitors.
Kevin Kwon, CEO of DXVX, said: “We are very pleased to sign our first global out-licensing agreement. We sincerely appreciate our partner’s recognition of our technological strength. We believe this agreement will positively influence additional licensing discussions currently underway for other pipelines.”
In addition to the mRNA cancer vaccine, DXVX is developing pipeline assets including a long-term ambient storage mRNA vaccine platform, an oral anti-obesity therapeutic, and OVM-200, a peptide-based cancer vaccine. The company is currently in licensing discussions with multiple domestic and international pharmaceutical and biotech companies.
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