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KaliVir, Astellas Pharma Enter Licensing Agreement For VET2-L2 Oncolytic Virus

KaliVir Immunotherapeutics LLC and Astellas Pharma Inc. (ALPMY,ALPMY) announced they entered into a worldwide licensing agreement for the research, development, and commercialization of VET2-L2, as well as a research collaboration to generate a second product. Astellas will pay to KaliVir up to $56 million in the form of an upfront payment and other payments to support research and preclinical activities related to VET2-L2 and the second product. Astellas may pay up to $307 million and up to $271 million for development, regulatory and commercialization of VET2-L2 and second product. Astellas also may make royalty payments on net sales.

"We are thrilled that Astellas has chosen KaliVir, and specifically VET2-L2, our lead product candidate, to add to their oncology program. VET2-L2, a multi-mechanistic, intravenously-delivered oncolytic vaccinia virus, has demonstrated strong preclinical data prompting us to plan our initial clinical trial for VET2-L2," said KaliVir CEO Helena Chaye.

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