Singapore, July 30 -- South Korea-based Dx&Vx (DXVX) has signed its first-ever global out-licensing agreement since its establishment. DXVX has entered into a co-development and license agreement valued at approximately $220 millionwith a US-based biotech company for its mRNA-based cancer vaccine. Revenue sharing post-commercialisation will be handled separately.

Through this agreement, DXVX will grant its partner exclusive global rights to its patented mRNA-based cancer vaccine. The partner company will pay DXVX a total of approximately $220 millionin development milestones and, following commercialization, sales-based milestone payments exceeding 10% of cumulative sales over a period of more than 15 years. Given the vast size and growt...