Inovio Partner ApolloBio Announces Positive Results for VGX-3100 Key Trial
Inovio announced that its partner for VGX-3100 in China, ApolloBio, announced positive topline results from its pivotal Phase 3 trial of VGX-3100, INOVIO's investigational DNA immunotherapy being developed as a potential treatment for cervical dysplasia. The trial successfully met its predefined primary efficacy endpoint and demonstrated an overall favorable safety and tolerability profile. ApolloBio plans to use the results from the study to support a future regulatory submission of VGX-3100 in China. "We believe these positive topline results for VGX-3100 reflect both the potential of our DNA medicine platform in HPV-related diseases and the power of partnerships to advance innovative DNA immunotherapies," said Dr. Jacqueline Shea, Inovio's President and CEO. "We look forward to these data being presented at upcoming international medical conferences and published in peer-reviewed publications. We also anticipate future updates from ApolloBio as they work towards filing for potential regulatory approval of VGX-3100 in China." According to the terms of the ApolloBio Agreement, INOVIO is entitled to receive up to an aggregate of $20M, less required income, withholding or other taxes, upon the achievement of specified milestones related to the regulatory approval of VGX-3100 in specified territories. In the event that VGX-3100 is approved for marketing, INOVIO will be entitled to receive royalty payments based on a tiered percentage of annual net sales.