UK'S XENOVA AND OXXON IN BIOTECHNOLOGY LICENSING AGREEMENT

Biotechnology company Xenova has entered into an exclusive licensing agreement with fellow UK-based pharmaceuticals company Oxxon. The deal, which envisages a number of up-front, milestone and royalty payments, is worth some GBP44mn (US$83mn).

According to reports, the deal will award Oxxon the rights on a product known as DISC-HSV for a number of potential therapies for cancer and infectious diseases. Payments are to be triggered by the launch of the first four products associated with the technology, which has already completed a Phase I dose-escalating safety study.