Inovio, Advaccine Forge Pact to Sell COVID-19 Vaccine in China
Pennsylvania-based Inovio has teamed up with Chinese biotech Advaccine to market its COVID-19 vaccine candidate, INO-4800, in China.
Per the deal, Advaccine will receive exclusive development, production and marketing rights for the vaccine in China, Hong Kong, Macao and Taiwan, and will pay Inovio $3 million upfront and $108 million in hitting development and sales-based milestones for the vaccine.
INO-4800, which is administered via a smart device called CELLECTRA, is being evaluated in a phase 2 clinical trial in China. In the U.S., the vaccine is being assessed in a mid-stage trial funded by the Department of Defense.
INO-4800 can remain stable at 98.6 degrees Fahrenheit (37 degrees Celsius) for more than a month and at room temperature for more than a year, as well as at normal refrigeration temperature for potentially five years.