MATEON THERAPEUTICS, INC. (OTCMKTS:MATN) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement.
OT-101 combination with other immunotherapy was licensed out to NantCell/NK cells (2017) and AutotelicBIO/IL-2 (2018). The termsheet with NantCell is binding and the definitive agreement with AutotelicBIO-IL-2 is now binding with the payment of the first milestone. These two agreements further the development of OT-101 as combination immunotherapy against cancers. Aggregate, Mateon is entitled up to $13M in milestone payments with royalty and profit sharing in the case of IL-2 license.
Item 8.01 Other Events
The press release on June 10, 2020 announcing the consummation of the IL-2 is included here as exhibit 99.1 and the licensing agreement with AutotelicBIO as exhibit 10.2 and the binding termsheet with NantCell as exhibit 10.1.
Item 9.01 Financial Statements and Exhibits.
MATEON THERAPEUTICS INC Exhibit
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About MATEON THERAPEUTICS, INC. (OTCMKTS:MATN)
Mateon Therapeutics, Inc., formerly OXiGENE, Inc., is a biopharmaceutical company. The Company is focused on the development of vascular disrupting agents (VDAs) for the treatment of cancer. The Company is engaged in developing two clinical stage investigational drugs: VDAs-CA4P and OXi4503. Its lead compound is CA4P, which is also known as combretastatin A4-phosphate, fosbretabulin tromethamine, fosbretabulin and ZYBRESTAT. VDAs selectively targets the vasculature of cancer tumors and obstructs a tumor’s blood supply without disrupting the blood supply to normal tissues. VDAs are in a class of drugs called vascular targeted therapies (VTTs), which also includes anti-angiogenic agents (AAs). CA4P is a reversible tubulin binding agent that selectively targets the endothelial cells that make up the blood vessel walls in solid tumors. The Company is pursuing the development of a product candidate, OXi4503, which is a dual-mechanism VDA.
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