Medivir enters into exclusive licensing agreement with IGM Biosciences for birinapant
- Medivir to Receive an Upfront Payment, as Well as Milestone Payments and Royalties
- IGM to Develop Birinapant in Combination with IGM-8444 for the Treatment of Solid Tumors
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Medivir AB (publ) (Nasdaq Stockholm: MVIR)
today announced that it has entered into an exclusive licensing agreement, through which IGM Biosciences, Inc. (Nasdaq: IGMS), will receive global, exclusive development rights for birinapant, a clinical-stage SMAC mimetic that binds to and degrades Inhibitors of Apoptosis Proteins (IAPs), leading to cell death (apoptosis) in tumor cells. The combination of IGM-8444, an IgM antibody targeting Death Receptor 5 (DR5) being developed by IGM, and birinapant has been shown to enhance anti-tumor activity preclinically. Medivir will receive an upfront payment of USD 1 million upon signing the agreement, followed by an additional USD 1.5 million whe