On August 15, 2023 Gritstone bio, Inc. (Nasdaq: GRTS), a clinical-stage biotechnology company that aims to develop the world’s most potent vaccines, and Genevant Sciences, a leading nucleic acid delivery company with world-class platforms and a robust and expansive lipid nanoparticle (LNP) patent portfolio, reported an agreement pursuant to which Gritstone bio, Inc. will have a multi-year option for a non-exclusive license under Genevant’s LNP technology on a pathogen-by-pathogen basis to develop and commercialize self-amplifying RNA (samRNA) vaccines (Press release, Gritstone Bio, AUG 15, 2023, View Source [SID1234634422]).
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"Our previous collaborations with Genevant have demonstrated the powerful potential of combining the strengths of two technology leaders, and we are pleased to expand our relationship with this new agreement," said Andrew Allen, M.D., Ph.D., Co-founder, President and Chief Executive Officer of Gritstone bio. "With the established complementarity between our samRNA technology and Genevant’s LNP technology, evident in clinical datasets in both oncology and infectious disease, we are now even better positioned to capitalize on the emergence of RNA vaccines and therapeutics to address a broader array of infectious diseases."
"The key role that LNP technology has played and can continue to play in the emergence of important medical advances has been a focus of Genevant scientists for over two decades," said Pete Lutwyche, Ph.D., President and Chief Executive Officer, Genevant Sciences Corporation. "As leaders in the field, we are thrilled to build upon our relationship with Gritstone to pursue new and better approaches to combat infectious disease."
Under the terms of the agreement, Genevant is eligible to receive from Gritstone option maintenance and exercise fees in the single digit millions, up to $136 million in contingent milestone payments per product, subject to increase for multi-pathogen products and in other specified circumstances, and royalties ranging from the mid to high single digits on future product sales. If Gritstone outlicenses an applicable infectious disease program, in lieu of certain of these payments, Genevant may be entitled to a percentage of amounts that Gritstone receives from its sublicensee.