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Stock impact report

Avid Bioservices and Oncologie Enter Into Asset Assignment and Purchase Agreement for Avid’s PS-Targeting Program Including Bavituximab

Avid Bioservices, Inc. (CDMO) 
Last avid bioservices, inc. earnings: 3/10 04:05 pm Check Earnings Report
US:NASDAQ Investor Relations: ir.avidbio.com
Company Research Source: GlobeNewswire
TUSTIN, Calif. and BOSTON, Feb. 12, 2018 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO) (NASDAQ:CDMOP) (“Avid”) and Oncologie, Inc. today announced that the companies have entered into an Asset Assignment and Purchase Agreement for Avid’s phosphatidylserine (PS)-targeting program including bavituximab. Bavituximab is an investigational immune-modulatory monoclonal antibody that targets PS, a phospholipid that inhibits the ability of immune cells to recognize and fight tumors. In addition to bavituximab, the deal includes Avid’s other PS-targeting antibodies, including betabodies, as well as certain other assets and licenses useful and/or necessary for the potential commercialization of bavituximab. Under terms of the agreement, Avid will receive an aggregate of $8 million in upfront payments from Oncologie paid over a period of six months from the execution date of the agreement and will be eligible to receive up to $95 million in development, regulatory and commercializa Show less Read more
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