biOasis in license pact with Vaccinex

BiOasis Technologies (OTCQX:BIOAF; TSX-V:BTI) has entered into a license agreement with Vaccinex to commercialize Vaccinex’s anti-semaphorin 4D antibody technology in combination with the biOasis Transcend technology.

The Vaccinex anti-SEMA4D technology targets neurodegenerative diseases, such as Huntington's disease and multiple sclerosis, the two initial neurology disease indications being investigated by Vaccinex.

Under the accord, Vaccinex has received rights to the Transcend technology and its intellectual patent property, and on achievement of specific events, biOasis could receive up to $20-million in upfront and milestone payments, and annual single-digit royalty payments on commercialization.

In a statement, Rob Hutchison, CEO of biOasis, said that facilitating the delivery of monoclonal antibodies across the blood-brain barrier to reach their therapeutic targets in the brain is the core focus of biOasis.

“The combination of the Transcend technology and Vaccinex's unique anti-SEMA4D antibody has the potential to facilitate antibody delivery to the brain in patients suffering from neurological disorders, such as Huntington's disease and multiple sclerosis," he added.

Dr. Maurice Zauderer, CEO of Vaccinex, said biOasis’ promising Transcend technology has a unique potential to increase the efficiency of antibody delivery to multiple regions of the brain.