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news.Vical, a developer of biopharmaceutical products based on its DNA delivery technologies, has signed an exclusive, binding letter of intent with Eczacibasi Ilac Pazarlama, a Turkish pharmaceutical company, for sales and marketing of the company's Allovectin-7 immunotherapeutic product candidate in Turkey and the Turkish Republic of Northern Cyprus.
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Eczacibasi Ilac Pazarlama (EIP) has agreed to obtain the necessary regulatory approvals for the territory and to pay Vical upfront and milestone payments plus a specified transfer price in exchange for the rights to an exclusive license for the territory.
Previously, Allovectin-7, a plasmid/lipid complex containing the DNA sequences encoding HLA-B7 and beta-2 microglobulin, has received orphan drug designation for the treatment of invasive and metastatic melanoma from the FDA’s Office of Orphan Products Development.
Vijay Samant, Vical’s president and CEO, said: “As we advance toward completion of enrollment in our Phase III trial of Allovectin-7 in patients with advanced metastatic melanoma, we are also looking ahead to commercialization opportunities in key global markets.
“As an established pharmaceutical company in Turkey with a significant cancer franchise, EIP has the expertise to guide Allovectin-7 through the Turkish approval process and the strength to launch and sell Allovectin-7 successfully in the Turkish market. We continue to explore licensing and distribution agreements in additional international markets.”