On December 20, 2021 CG Oncology, Inc., a clinical-stage biotechnology company focused on developing oncolytic immunotherapies for patients with advanced cancer, reported it has triggered the first development milestone payment under its licensing agreement with Kissei Pharmaceutical Co., Ltd. for its oncology immunotherapy CG0070 for Japan, South Korea, Taiwan and other Asian countries with the exception of China (Press release, CG Oncology, DEC 20, 2021, View Source [SID1234597493]).

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CG Oncology will receive a $10 million cash payment with the dosing of the first patient in Japan in the Phase 3 study (BOND3) for CG0070 as monotherapy for the treatment of patients with Non-Muscle-Invasive Bladder Cancer (NMIBC) unresponsive to Bacillus Calmette-Guerin (BCG).

The goal of BOND3, an ongoing global Phase 3 trial which will enroll 110 patients, is to evaluate the safety and efficacy of CG0070 as a monotherapy for the treatment of NMIBC unresponsive to BCG.

More information about the study can be found at www.clinicaltrials.gov (NCT04452591).