Friday, December, 06, 2019 03:49:40

The deal will grant Gilead rights over HOOKIPA’s immunization technologies for developing immunotherapies against HIV and HBV.

HOOKIPA Pharma Inc., a clinical-stage company developing novel immunotherapies targeting infectious diseases and cancers, has recently acquired its first research milestone through a collaboration and license agreement with U.S. biotech firm Gilead Sciences, Inc.

Sources close to the deal state that the move will grant Gilead exclusive rights to HOOKIPA’s VaxWave® and TheraT® immunization technologies for the development of immunotherapies against human immunodeficiency virus (HIV) and hepatitis B virus (HBV).

Reportedly, HOOKIPA has finalized its first research milestone by developing and offering 14 research-grade vectors to Gilead. Vector characterization and delivery of a data package for the HIV program will also be made available to Gilead by HOOKIPA. In accordance with the terms of the agreement, HOOKIPA is eligible to attain milestone payment from Gilead, claim sources.

According to an official press release, Joern Aldag, CEO, HOOKIPA, said that the company is pleased to gain its first milestone through the collaborative HIV program. He said that the move reflects the firm’s joint commitment to develop and deliver new treatment options for patients suffering from these infectious diseases.

Sources cite that Gilead, as a part of the agreement, has offered an upfront payment of $10 million to HOOKIPA and will fund all the research and development activities of the firm. Milestone payments will be made to HOOKIPA based upon the achievement of regulatory, specified development, and commercial milestones of around $400 million. Further, HOOKIPA will also be eligible to attain tiered royalties on net sales, cite sources.

For the record, Gilead Sciences, Inc. is a research-based biopharmaceutical company that identifies, develops, and commercializes novel medicines in areas of clinical needs. The company aims to transform and simplify care for people with life-threatening diseases around the world and operates in over 35 countries worldwide.