Amgen, Advaxis in Immunotherapy Alliance

Amgen and Advaxis, Inc. entered a global agreement for the development and commercialization of Advaxis’ ADXS-NEO, a preclinical investigational cancer immunotherapy. This collaboration will utilize Amgen’s development expertise in immuno-oncology and Advaxis’ MINE (My Immunotherapy Neo-Epitopes) program to develop a customized approach to cancer treatment.

Amgen receives exclusive worldwide rights to develop and commercialize ADXS-NEO. Advaxis will receive $40 million upfront and Amgen will purchase $25 million of Advaxis common stock. Amgen will be responsible for funding clinical and commercial activities. Advaxis will lead the clinical development through proof-of-concept, retain manufacturing responsibilities, and receive development, regulatory and sales milestones of as much as $475 million, and royalty payments on sales.

The Advaxis Lm Technology utilizes live attenuated Listeria monocytogenes (Lm) bioengineered to produce and deliver tumor antigen/adjuvant fusion proteins within antigen presenting cells with the goal of generating strong, T-cell-mediated immunity.

“Amgen’s collaboration with Advaxis leverages and enhances our development and commercialization expertise in novel immuno-oncology treatments,” said Sean E. Harper, M.D., executive vice president of R&D at Amgen. “We look forward to partnering with Advaxis to advance this highly targeted and patient-specific treatment option for patients.”

“Amgen is a pioneer in the science of using living cells to develop biologic medicines, making them an incredibly strong partner to develop and commercialize Advaxis’ MINE,” said Daniel J. O’Connor, president and chief executive officer at Advaxis. “With Amgen’s resources, worldwide reach and a culture that embraces science and innovation, we are positioned to accelerate the clinical development program for ADXS-NEO to improve the lives of those who suffer from cancer.”