As per the terms of the deal, OEP will receive exclusive rights from OncoVent to commercialise oregovomab in Taiwan.
The licence will also cover related regulatory applications and required clinical studies for the drug candidate.
Under the licence agreement, OncoVent is eligible to receive several payments from OEP, including a one-off non-refundable upfront payment.
With a total value of $11.2m, the company will secure multiple regulatory milestone payments as well as multiple commercial milestone payments.
OEP will also acquire oregovomab from OncoVent at an amount equal to an agreed percentage to the average sale price of the immunotherapeutic drug candidate in Taiwan.
Furthermore, OEP obtained the right of first refusal from OncoVent for exclusive sales, marketing, and supply right in Hong Kong and Macau.
OEP CEO Calvin Tsai said: “We believe oregovomab can potentially improve the treatment outcomes for patients with advanced primary ovarian cancer.
“This collaboration with OncoVent not only strengthens our oncology portfolio, but also serves our overarching objective of advancing oncologic therapeutics.”
Oregovomab, which is a murine monoclonal antibody and a first-in-class anti-CA125 immunotherapy drug candidate, is presently being assessed in a global Phase III trial using study drugs provided by Hepalink’s wholly-owned subsidiary Cytovance Biologics.
A phase II clinical study was concluded earlier, which was designed to assess the drug candidate along with standard chemotherapy for primary treatment of patients with advanced primary ovarian cancer.
According to Hepalink, the data collected from the clinical trial demonstrated the safety and efficacy of the combination, which were in line with the expectations.