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8-K - MABVAX THERAPEUTICS HOLDINGS, INC. | form8k-07092018_080702.htm |
MabVax Therapeutics and Boehringer
Ingelheim Sign Asset Purchase and License Agreement and Related
Agreements for an Antibody Development Program Targeting Multiple
Solid Tumor Cancers
SAN
DIEGO, CA – July
9, 2018 – MabVax
Therapeutics Holdings, Inc. (Nasdaq: MBVX), a clinical-stage
oncology drug development company and Boehringer Ingelheim today
announced they have signed an asset acquisition and related agreements centered
on MabVax’s program targeting a glycan commonly overexpressed
on multiple solid tumor cancers. Boehringer Ingelheim has acquired all rights in and to the
program.
MabVax
will receive a total of US $11 million in upfront and near-term
milestones as well as downstream regulatory milestone payments plus
further earn-out payments. The asset acquisition is separate and
distinct from other programs under development at MabVax, enabling
MabVax to retain all rights to its lead HuMab-5B1antibody program
which is in Phase 1 clinical trials as a therapeutic product and as
a diagnostic product, as well as other antibody discovery programs
from the Company’s rich antibody discovery portfolio
targeting other cancer antigens.
MabVax
discovered the antibody series at the center of this transaction
from biological samples, originally from patients who were
vaccinated against their solid tumors with a glycan
antigen-containing vaccine. The discovery of fully human antibodies
directly from vaccinated cancer patients has potential advantages
which include greater specificity and reduced toxicities. MabVax
completed and has reported on early preclinical development
activities to establish the utility of the program.
“We
are very pleased to have Boehringer Ingelheim as a major industry
partner to further develop one of our preclinical antibody assets
based on our proprietary HuMab technology,” said David
Hansen, President and CEO of MabVax Therapeutics. “This agreement with Boehringer
Ingelheim recognizes the value of our innovative approach to
discovering novel antibodies to diagnose and treat cancer.
We have been committed since the founding of the Company to
discovering and developing unique fully human antibodies to
diagnose and treat patients with cancers where there remain
significant unmet medical needs.”
About MabVax:
MabVax Therapeutics Holdings, Inc. is a clinical-stage
biotechnology company with a fully human antibody discovery
platform focused on the rapid translation into clinical development
of products to address unmet medical needs in the treatment of
cancer. Our antibody MVT-5873, is a fully human IgG1 monoclonal
antibody (mAb) that targets sialyl Lewis A (sLea), an epitope on
CA19-9, and is currently in Phase 1 clinical trials as a
therapeutic agent for patients with pancreatic cancer and other
CA19-9 positive tumors. CA19-9 is expressed in over 90% of
pancreatic cancers and in other diseases including small cell lung
and GI cancers. CA19-9 plays an important role in tumor adhesion
and metastasis, and is a marker of an aggressive cancer phenotype.
CA19-9 serum levels are considered a valuable adjunct in the
diagnosis, prognosis and treatment monitoring of pancreatic cancer.
With our collaborators including Memorial Sloan Kettering Cancer
Center, Sarah Cannon Research Institute, Honor Health and Imaging
Endpoints, we have treated over 56 patients with either our
therapeutic antibody designated as MVT-5873 or our PET imaging
diagnostic product designated as MVT-2163 in Phase 1 clinical
studies, and demonstrated early safety and specificity for the
target. Patient dosing is continuing in Phase 1 clinical studies of
MVT-5873 in combination with nab-paclitaxel and gemcitabine to
patients newly diagnosed with CA19-9 positive pancreatic cancer,
and for the Company's radioimmunotherapy product MVT-1075. Other
discovery programs at MabVax are in preclinical development. For
additional information, please visit the Company's website,
www.mabvax.com.
Forward Looking Statements
This
press release contains “forward-looking statements”
regarding matters that are not historical facts, including
statements relating to the asset acquisition and related agreements
centered on the undisclosed program, and what programs remain at
MabVax that continue to be under development in the Company’s
development pipeline. We have no assurance that all of the product
development pipeline will be fully developed by the Company.
Because such statements are subject to risks and uncertainties,
actual results may differ materially from those expressed or
implied by such forward-looking statements. Words such as
“potential,” and “early” and similar
expressions are intended to identify forward-looking statements.
These forward-looking statements are based upon current
expectations of the Company and involve assumptions that may never
materialize or may prove to be incorrect. Actual results and the
timing of events could differ materially from those anticipated in
such forward-looking statements as a result of various risks and
uncertainties. Detailed information regarding factors that may
cause actual results to differ materially from the results
expressed or implied by statements in this press release relating
to the Company may be found in the Company’s periodic filings
with the Securities and Exchange Commission, including the factors
described in the section entitled “Risk Factors” in its
annual report on Form 10-K for the fiscal year ended December 31,
2017, as amended, and which may be supplemented in other filings
that the Company could submit in the future to the SEC, copies of
which may be obtained from the SEC's website at www.sec.gov.
The parties do not undertake any obligation to update
forward-looking statements contained in this press
release.
Investor
Contact:
Email:
MabVaxIR@mabvax.com
Media Contact:
Russo
Partners LLC
Phone:
212-845-4272
Email:
travis.kruse@russopartnersllc.com