NetScientific PLC (AIM:NSCI) has reported that PDS Biotechnology Corporation (NASDAQ:PDSB), a company it has invested in, has signed an exclusive global licence agreement with Merck KGaA, Darmstadt, Germany, for M9241, a tumour-targeting protein.
PDS, which is working on immunotherapies for cancer and infectious disease, will receive an upfront payment of US$5 million and be entitled to up to US$11 million in development and regulatory milestone payments, and up to US$105 million in commercial milestones, as well as a 10% royalty on future sales of M9241.
M9241, which was studied in a phase II trial at the National Cancer Institute in the US, appears to enhance the proliferation, potency, and longevity of T cells in tumours and uses PDS’ patented Versamune technology.
In a statement, Dr Ilian Iliev, NetScientific chief executive, said: “This is another important milestone in PDS' development, working with leading global pharma companies in enhancing its platform and pipeline commercial potential. After a successful 2022, the PDS team is off to a great start for 2023."