- Biotech company Immutep (IMM) has entered a licence and collaboration deal with LabCorp to develop immuno-oncology products and services
- LabCorp is a North Carolina-based global life sciences company which operates one of the largest clinical lab networks in the world
- Under this deal, Immutep is eligible to receive an upfront payment of US$125,000 (roughly A$177,961)
- Additionally, it may receive up to three milestone payments if it commercialises drugs that require an immuno-oncology diagnostic test that is being developed by LabCorp
- The collaboration allows Immutep to enter the immuno-oncology diagnostics field
- Company shares ended the day trading up a slight 1.96 per cent for 26 cents
Immutep (IMM) has entered a licence and collaboration agreement with Laboratory Corporation of American Holdings (LabCorp).
The companies will collaborate to develop immuno-oncology products and services.
LabCorp is a North Carolina-based clinical lab company that operates one of the largest clinical laboratory networks in the world.
The global life sciences company provides diagnostic, drug development and technology solutions for more than 160 million patients per year.
Under this agreement, Immutep is eligible to receive an upfront payment of US$125,000 (roughly A$177,961) and potential further commercial milestones and service payments.
Immutep can receive up to three milestone payments subject to commercialising new drugs or indications of existing drugs that require the use of an immuno-oncology diagnostic test that is being developed by LabCorp.
The collaboration allows Immutep to enter the immuno-oncology diagnostics field.
The agreement will be ongoing until the licensed technology and associated intellectual property have been exhausted and are open to the public.
“Over the years, Immutep has generated a significant amount of know-how in immuno-oncology, specifically in terms of LAG-3,” Immutep CEO Marc Voigt said.
Immutep is developing LAG-3-related immunotherapeutic products to treat cancer and autoimmune disease.
Company shares ended the day trading up a slight 1.96 per cent for 26 cents.