WOONSOCKET – MultiCell Immunotherapeutics and Oxis Biotech recently announced a research and development and product license agreement to create three new antibody-drug conjugates.
The product candidates will be used by OXIS for the treatment of triple-negative breast cancer and multiple myeloma and associated osteolytic lesions, both representing significant unmet medical needs.
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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 product candidates. OXIS will also pay up to $12.75 million in clinical development fees and was given an option to buy manufacturing rights upon completion of the three new products for an additional $10 million.
