RTTNews | Sep 29, 2021 07:27AM EDT

07:27 Wednesday, September 29, 2021 (RTTNews.com) - Shares of Georgia-headquartered GeoVax Labs, Inc. (GOVX) were rising more than 23 percent in pre-market trade after it announced an Assignment and License Agreement with PNP Therapeutics, Inc. that grants GeoVax exclusive rights to develop and commercialize Gedeptin, a novel patented product for the treatment of solid tumors.

Detailed financial terms of the transaction were not disclosed, but that include a combination of upfront payments, milestone fees, and royalties on net sales.

The License provides exclusive worldwide rights to key intellectual property, including Gedeptin patents, know-how, regulatory filings, clinical materials, and trademarks. GeoVax will become the successor to PNP under its license agreement with University of Alabama at Birmingham (UAB) / Southern Research Institute (SRI).

The Gedeptin technology was developed with funding support from the National Cancer Institute of the National Institutes of Health. The License also grants GeoVax the rights to expand the use of Gedeptin to all human diseases and/or conditions including, but not limited to, other cancers. With this license, GeoVax adds an Orphan Drug Clinical Program for the treatment of advanced head and neck cancers and thereby expands its immuno-oncology pipeline.

GeoVax Labs is a biotechnology company specializing in developing human vaccines and cancer immunotherapies. Its current development programs are focused on preventive vaccines against COVID-19, HIV, Zika Virus, hemorrhagic fever viruses (Ebola, Sudan, Marburg, and Lassa), and malaria, as well as therapeutic vaccines against multiple cancers.

GOVX has traded in the range of $2.56 to $8.71 in the 52-week period. It is currently trading in pre-market at $5.16, up $0.98 or 23.44 percent over previous close.

Read the original article on RTTNews ( https://www.rttnews.com/3229040/geovax-labs-up-23-in-pre-market-on-gedeptin-license-for-solid-tumor-treatment.aspx)

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