The amendment allows UMN to enter into collaboration agreements with Astellas Pharma and IHI Corporation.
Astellas’ role will be to support further development, licensure and marketing of PSC’s influenza vaccines for the Japan market.
PSC received a portion of the up-front payment paid by Astellas and will be entitled to receive a portion of the development and sales milestones and double-digit royalties on sales.
UMN will retain manufacturing rights and has partnered with IHI to establish a commercial manufacturing facility in Japan.
PSC and UMN have further amended their license agreement to expand the territories for which UMN holds exclusive rights to commercialise PSC’s influenza vaccines to include China, Hong Kong, Korea, Singapore and Taiwan.
PSC executive chairman Daniel Adams said that they look forward to work with UMN and Astellas, which they view as an ideal development and marketing partner for UMN, to secure licensure and commercialise influenza vaccines in Japan.
"We also believe that UMN is well suited to bringing the benefits of FluBlok and PanBlok to the additional countries and these agreements together with other recent developments, including our contract with BARDA, are key to grow company," Adams said.