Life Sciences Greenhouse Portfolio Company Signs Unprecedented Licensing Deal
Immunomic Therapeutics, Inc. Partners with Astellas Pharma, Inc.
Harrisburg, PA October 13, 2015 – The Life Sciences Greenhouse of Central Pennsylvania (LSGPA) announced that one of its portfolio companies, Immunomic Therapeutics, Inc., (ITI) has entered into a worldwide license agreement with Astellas Pharma, Inc. (Astellas). This exclusive licensing agreement is for LAMP-vax products, which are for the treatment or prevention of allergic diseases in humans. ITI is located in Hershey, Pennsylvania with lab facilities in Rockville, Maryland.
LSGPA has invested over $1 million in ITI since 2010. This investment has signaled a strong belief in the company, their leadership and their vaccine product platform. LSGPA makes early stage investments in life sciencesA cluster of scientific disciplines concerned with human life and health. Included are many branches of biology (e.g., molecular biology, cell biology) and chemistry (e.g., biochemistry), as well as some areas of genetics, physics and materials science, among others. companies that have strong market potential. The exclusive licensing agreement between ITI and Astellas means a record $300 million upfront payment to ITI and a ten percent royalty based on net sales.
“When LSGPA invests in life science companies in Central Pennsylvania, we do so with the hope that the company will succeed, and that the return on our investment will allow us to assist other companies in the region,” said Dr. Mel Billingsley, President and CEO of LSGPA. “We knew that ITI had a ground-breaking technology that would transform the design and delivery of vaccines. This partnership with Astellas begins to make this breakthrough available on a global basis. It just doesn’t get any better than this.”
Astellas is a pharmaceutical company headquartered in Tokyo, Japan with offices across Asia, Japan, Europe and North America. Northbrook, Illinois, serves as the headquarters for the Americas and employs nearly 3,000 people. Astellas is dedicated to improving the health of people around the world through the provision of innovative and reliable pharmaceutical products. With this partnership, Astellas now has exclusive worldwide rights to research, develop, manufacture and commercialize the LAMP-vax products for all allergic diseases.
“LSGPA is a steward of funding that was provided to us from the Tobacco Settlement Fund in 2002,” added Billingsley. “We take our investments seriously and work hard to not only identify and assist start-up life sciences companies but to provide connections to angel investors, strategic partners and resources. ITI took advantage of all that LSGPA has to offer and the results are extraordinary.”
LSGPA is a venture investment organization that provides early-stage investments to promising start-up companies in the life sciences field in central Pennsylvania. The organization was founded in 2002 and was funded from Pennsylvania’s Tobacco Settlement Funds to stimulate creation and growth of new life sciences enterprises in Pennsylvania. For more information, please visit our website: www.lsgpa.com
About Immunomic Therapeutics
Immunomic Therapeutics, Inc. (ITI) is a privately-held clinical stage biotechnology company dedicated to pioneering vaccines that transform lives. Headquartered in Hershey, PA with lab facilities in Rockville, MD, ITI is developing next-generation vaccines based on patented LAMP Technology. Its LAMP-vax vaccine platform significantly increases the immune response to nucleic acid vaccines and simplifies vaccine design and delivery for safer, more cost-effective therapies. LAMP constructs have been validated in human clinical trials for cancer and have been applied to targets such as allergy, cancer and infectious diseases. Immunomic Therapeutics’ vision is to have regulatory approved products in pollen allergy, food allergy, cancer, and animal health. For information about Immunomic Therapeutics and LAMP Technology, visit: www.immunomix.com