Beijing-based ApolloBio Corporation has entered into a collaboration and license agreement with San Diego-based Inovio Pharmaceuticals acquiring the exclusive right to develop and commercialize VGX-3100, a DNA immunotherapy product designed to treat pre-cancers caused by HPV, within Greater China (China, Hong Kong, Macao, Taiwan). Inovio will receive $15 million in upfront and near term payments, up to $20 million in regulatory milestones and double-digit royalties on net sales. ApolloBio will make up to a $35 million equity investment in Inovio. The agreement provides for potential inclusion of Korea three years following the effective date.
