Benzinga | Nov 1, 2021 07:41AM EDT

AstraZeneca's Medimmune Terminates DNA Cancer Vaccine Program With Inovio

* MedImmune Limited, a unit of AstraZeneca Plc (NASDAQ:AZN), has notified Inovio Pharmaceuticals Inc (NASDAQ:INO) to terminate the DNA cancer vaccine development program agreement.

* Under the agreement, MedImmune acquired exclusive rights to INO-3112 immunotherapy, renamed MEDI0457, targeting cancers caused by human papillomavirus types 16 and 18.

* Inovio has now regained the rights to INO-3112 and is no longer eligible to receive future milestones or royalties.

* MedImmune is currently conducting a Phase 2 trial of MEDI0457 in head and neck squamous cell carcinomas and plans to complete the clinical study report by the end of 2022.

* Read Next: Inovio To Start Global Late-Stage COVID-19 Vaccine Trial.

* Price Action: INO shares are up 0.84% at $7.20, while AZN shares are down 0.30% at $62.19 during the premarket session on the last check Monday.