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bluebird bio BLUE) and ViroMed exclusive license Agreement for Novel Antibodies to Develop Chimeric Antigen Receptor T Cell Therapy. BLUE is up +$2.98 or +3.68% in the pre-market - BUY

December 3, 2015 8:15am

Financial terms of the agreement include a $1 M upfront payment and subsequent milestone payments to ViroMed, which together could total over $48 M per licensed product if certain development and regulatory milestones are achieved. ViroMed is also eligible to receive tiered royalties on product sales. BLUE will conduct and fund clinical development as well as regulatory and commercial activities

bluebird bio (BLUE) and ViroMed Co., Ltd. have entered into an exclusive license agreement to research, develop and commercialize chimeric antigen receptor (CAR) T cell therapies using ViroMed’s proprietary humanized antibody to an undisclosed cancer target for solid tumors.

The Bottom Line: ViroMed will provide bluebird bio exclusive rights to its novel humanized antibody to the target, and BLUE will leverage its proprietary lentiviral gene therapy platform and CAR T capabilities to develop CAR T therapies against the target.

BLUE closed at $81.01 which was up +40.67 or 0.83% on Wednesday and is up +$2.98 in the pre-market - BUY

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