LION BIOTECHNOLOGIES, INC. (NASDAQ:LBIO) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01
| Entry Into A Material Definitive Agreement |
On April 17, 2017, Lion Biotechnologies (we or us) entered into a
Strategic Alliance Agreement (the SAA) with M.D. Anderson Cancer
Center (M.D. Anderson) under which we and M.D. Anderson agreed to
conduct clinical and preclinical research studies. Initially, we
plan to conduct multi-arm clinical trials to evaluate
tumor-infiltrating lymphocyte, or TIL, technology in several
different cancers using two different TIL manufacturing
processes. We and M.D. Anderson will both manufacture TIL for the
trials. We and M.D. Anderson also will collaborate in related
preclinical research focusing on the expansion of TIL from
additional types of tumors in order to identify possible new
indications for clinical research.
We have agreed in the SAA to provide total funding not to exceed
approximately $14.2 million for the performance of the multi-year
studies under the SAA. In return, we will acquire all rights to
inventions resulting from the studies and have been granted a
non-exclusive, sub-licensable, royalty-free, and perpetual
license to specified background intellectual property of M.D.
Anderson reasonably necessary to exploit, including the
commercialization of, any invention. We have also been granted
certain rights in clinical data generated by M.D. Anderson
outside of the clinical trials to be performed under the SAA. The
SAAs term shall continue in effect until the later of the fourth
anniversary of the SAA or the completion or termination of the
research and receipt by us of all deliverables due from M.D.
Anderson thereunder.
The foregoing summary of the material terms of the SAA does not
purport to be a complete description of the terms and provisions
of the SAA. The full text of SAA will be filed as an exhibit to
our Quarterly Report on Form 10-Q for the quarter ending June 30,
2017, portions of which will be subject to a FOIA confidential
treatment request to the Securities and Exchange Commission to
Rule 24b-2 under the Securities Exchange Act of 1934, as amended.
| Item 8.01 | Other Events |
On April 19, 2017, we issued a press release announcing the SAA,
a copy of which is furnished as Exhibit 99.1 to this Current
Report and is incorporated by reference herein.
The information in the accompanying Exhibit 99.1 shall not be
deemed to be filed for the purposes of Section 18 of the
Securities Exchange Act of 1934 (the Exchange Act), or otherwise
subject to the liability of such section, nor shall such
information be deemed to be incorporated by reference in any
subsequent filing by the Company under the Securities Act of 1933
or the Exchange Act, regardless of the general incorporation
language of such filing, except as specifically stated in such
filing.
| Item 9.01 | Financial Statements And Exhibits |
(d)Exhibits.
| Exhibit No. | Description | |
| 99.1 |
Press Release of Lion Biotechnologies, Inc., dated April 19, 2017. |
About LION BIOTECHNOLOGIES, INC. (NASDAQ:LBIO)
Lion Biotechnologies, Inc. is a clinical-stage biotechnology company. The Company is focused on developing and commercializing cancer immunotherapy products designed to harness the power of a patient’s own immune system to eradicate cancer cells. The Company’s lead pipeline candidate, LN-144, is an adoptive cell therapy using tumor-infiltrating lymphocytes (TIL) to treat patients with refractory metastatic melanoma. The Company develops a portfolio of TIL-based products for the treatment of solid tumors. In addition to LN-144, the Company intends to develop additional TIL-based pipeline products to treat a range of solid tumors. It develops LN-145 to treat cervical and head and neck cancers. TIL therapy involves growing a patient’s TIL in special culture conditions outside the patient’s body, or ex vivo, and then infusing the T cells back into the patient in combination with interleukin-2 (IL-2). LION BIOTECHNOLOGIES, INC. (NASDAQ:LBIO) Recent Trading Information
LION BIOTECHNOLOGIES, INC. (NASDAQ:LBIO) closed its last trading session 00.00 at 6.05 with 122,856 shares trading hands.