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Operator: Hello, and welcome to Vir Biotechnology s Third Quarter 2023 Financial Results and Business Update Call. As a reminder, this conference call is being recorded.
The Nobel Prize in Physiology or Medicine 2018 was awarded jointly to James P. Allison and Tasuku Honjo "for their discovery of cancer therapy by inhibition of negative immune regulation".
Workers in the Biond Biologics lab in Misgav, Israel (Courtesy)
The anti-cancer drug developed by Biond Biologics, which the Israeli startup will now try on humans in clinical trials with France-based multinational Sanofi, takes a multipronged approach to fighting tumors, activating three kind of cells in the immune system at the same time.
Paris-based multinational pharma firm Sanofi signed a licensing agreement earlier this month for Biond’s flagship anti-tumor drug BND-22, a cancer immunotherapy medication.
Under the terms of the agreement, Biond will receive an upfront payment of $125 million in cash and up to $1 billion in potential development, regulatory and sales milestones, as well as tiered double-digit royalty payments, the Israeli firm said in a statement. Biond will lead the first-in-human Phase 1a clinical trial of the drug, evaluating its safety and tolerability. Afterwards, Sanofi will take on development responsibilities and commercialization of the drug, Biond