PDS Biotechnology has entered into a licensing agreement with Merck KgaA, Germany, for use of PDS Biotechnology's Versamune nanotechnology platform.
Under the terms of the agreement, Merck will obtain the rights to use the technology with two investigational antigen-specific cancer immunotherapies which are in pre-clinical development.
PDS Biotechnology will receive development and an unrevealed advance payments in addition to royalties on sales and usuage of technology as part of the licensing agreement.
PDS Biotechnology chief executive Frank Bedu-Addo said they are very pleased that Merck, which is experienced in the clinical development of cancer immunotherapies, would like to utilise the Versamune technology.
''This is the stage where companies will be seeking to enhance their pipelines by taking advantage of a new technology that has broad potential applications in clinical research into the treatment and prevention of cancer and infectious diseases," Frank added.