Oxis Biotech, Inc. is a wholly owned subsidiary of OXIS International, Inc. (OTCMKTS:OXIS). Recently it announced the execution of a developmental and licensing agreement with MultiCell Immunotherapeutics, Inc. With the help of this agreement, OXIS will look forward to developing certain antibody-drug conjugates. As per the reports, these ADCs are very helpful in the treatment of associated osteolytic lesions, multiple myeloma, and triple-negative breast cancer.
Terms of The Agreement:
As per the reports, MCIT will look forward to developing three ADC product candidates, which contain OXS-4235 and OXS-2175; lead drug candidates of OXIS. The financial settlements have already been done, and OXIS has reportedly paid $500,000 as the license fees to MCIT. Apart from this up-front amount, the company has also agreed to reimburse up to $1.25 million for all the development related costs. After the payment is made in full, all three ADCs of the company will be licensed to OXIS.
The reports claim that if the manufacturing rights to the ADCs are purchased and all the clinical, developmental milestones are achieved, then OXIS will pay additional $22.75 million to MCIT. It will also pay 3% worldwide loyalty on sales apart from this one-time payment, provided the marketing activities of these ADCs are approved.
The high-end ADC technology of MCIT is based on cleavable and multivalent linkers, which allow the tethered drugs to be released extracellularly or intracellularly, once the antibody is bound to the targeted cells. These ADCs are designed in such a way that they can attach multiple drugs on any particular antibody and release the same without making any change in them.
If a report published by American Cancer Society is taken into consideration, there were total 231,840 new patients were found suffering from invasive breast cancer during the previous year in United States. Out of all these patients, 40,290 patients died from the breast cancer. If everything goes fine, then these ADCs can prove to be game-changing option in the treatment of cancer in the future.