Adlai Nortye Biopharma Co., Ltd. (NEEQ: 870946) announced that it has entered into a Regional Licensing Agreement (The Agreement) with Oncolytics Biotech® Inc. (TSX: ONC) (OTCQX: ONCYF), a biotech company developing REOLYSIN®, an intravenously delivered immuno-oncolytic virus that activates the innate and adaptive immune systems to turn ‘cold’ tumors ‘hot’. Under the terms of The Agreement, Adlai Nortye will have exclusive development and commercialization rights to REOLYSIN in China, Hong Kong, Macau, Singapore, South Korea and Taiwan.
“Adlai Nortye has a top-tier clinical, regulatory and commercial team with global experience, that will be able to gain significant regional exposure for REOLYSIN upon potential approval, following our phase 3 study in HR+/HER2- static breast cancer,” said Dr. Matt Coffey, President and CEO of Oncolytics Biotech. “China is the fastest growing pharmaceutical market in the world, and we are delighted to be able to unlock value for Oncolytics and our shareholders through this regional partnership. We’re very happy this was able to happen as expediently as it did following our end-of-phase two meeting with the FDA. On the back of that meeting we also have escalated our efforts to find a suitable global or larger regional partner, in regions such as Europe or Japan, and look forward to providing updates on our progress in the first half of 2018.”
"With its impressive clinical data coupled with its unique and novel mechanism, REOLYSIN will be an instrumental component in furthering the development of our oncology pipeline," said Carsten Lu, CEO of Adlai Nortye. "It immediately makes Adlai Nortye a late stage biotechnology company and REOLYSIN itself becomes our lead product. Given its potential in multiple oncological indications and its ability to be used in combination with multiple chemotherapies and immunotherapies, REOLYSIN will help to broaden future therapies made available by Adlai Nortye and advance us towards commercialization."