Imugene Limited (ASX:IMU, OTC:IUGNF) has provided additional information on a recent partnership with NASDAQ-listed biotech Celurlarity Inc.
The clinical-stage immune-oncology company told the local share market it had partnered with Celurlarity to develop an immunotherapy for solid tumours on Thursday, August 5.
Imugene has also revealed that the material partnership will run for an initial 12-month term and the ASX-lister will fund its component of the research partnership from its planned research budget.
Managing director and CEO Leslie Chong said: “We believe the synergy between Celularity’s approach and our OnCARlytic platform has the potential to shift the cellular medicine paradigm and may fundamentally change the way that solid tumours are treated.”
New details
In today’s market update, Imugene noted the broad research partnership is material as it includes the development of the company’s onCARlytics CD19 oncolytic virus, which has been licensed from the City of Hope, with Celularity’s allogeneic CAR T-cell therapy.
Ultimately, Imugene believes this has the potential to become a new approach to improve outcomes for patients with solid tumours.
The collaboration came into effect from August 5, while each party has full intellectual property (IP) rights to their individual background technology.
In the event new IP is generated from the collaboration — one example being a combination invention — the parties shall discuss in good faith the filing, prosecution, maintenance, enforcement and defence of any patent applications, as well as each party’s right to use the new IP.
Following the successful completion of the pre-clinical research, the parties will negotiate in good faith a collaboration agreement on commercially reasonable terms.
Speaking to the partnership last Thursday, Chong continued: “We look forward to closely working together to bring this treatment strategy to the clinic and patients in need.”
Celularity founder, chairperson and CEO Robert Hariri said: “We are excited to initiate this research collaboration, which we believe will lay the foundation for a new approach to the treatment of solid tumours.”