On October 29, 2020 Immutep Limited (ASX: IMM; NASDAQ: IMMP), a biotechnology company developing novel immunotherapy treatments for cancer and autoimmune disease, reported that it has entered into a Licence and Collaboration Agreement with Laboratory Corporation of America Holdings, known as LabCorp (NYSE: LH) that will support the development of immuno-oncology products or services (Press release, Immutep, OCT 29, 2020, View Source [SID1234569750]).

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"Over the years, Immutep has generated a significant amount of know-how in immuno-oncology, specifically in terms of LAG-3", said Marc Voigt, CEO of Immutep.

Under the terms of the Agreement, Immutep is eligible to receive an upfront fee of US$125,000 and potential further commercial milestones and service payments. The milestone payments, which consist of up to three payments, are tied to the commercialisation of new drugs or new indications of existing drugs that requires use of an immuno-oncology diagnostic being developed by LabCorp.

The Agreement will continue until such time as the licensed technology and associated intellectual property have been exhausted and are in the public domain, or until terminated by either party.

The collaboration with LabCorp is unrelated to any of Immutep’s own in-house pharmaceutical development programs in cancer or autoimmune disease. Significantly, it enables Immutep to enter the immuno-oncology diagnostics field.