Sirtex Medical announces collaboration update with OncoSec Medical
Collaboration provides Sirtex the right to co-promote OncoSec lead product candidate TAVO™ for the treatment of advanced melanoma
WOBURN, Massachusetts, Jan. 19, 2021 /PRNewswire/ -- Sirtex Medical US Holdings, Inc. ("Sirtex"), a leading manufacturer of targeted cancer therapies, announced an advancement in its strategic collaboration with OncoSec Medical, Inc. (NASDAQ: ONCS) relating to OncoSec's lead product candidate TAVO™ (tavokinogene telseplasmid) and its electroporation (EP) gene delivery system.
The collaboration update provides Sirtex with the option to acquire the right to co-promote TAVO™ and its related EP gene delivery system in the United States in the lead target indication of treating anti-PD-1 refractory locally advanced or metastatic melanoma. Sirtex has the right to exercise the option until 90 days following the filing of a Biologics License Application (BLA) by OncoSec.
TAVO™ is DNA-based interleukin-12 (IL-12), a naturally occurring protein with immune-stimulating functions. TAVO™ is administered directly into the tumor using OncoSec's proprietary EP gene delivery system, which employs a series of momentary energy pulses. Those pulses are designed to increase the permeability of the cell membrane and facilitate uptake of IL-12 coded DNA into the tumor cells. TAVO™ is a potential treatment for multiple cancer indications as a monotherapy or in combination with leading checkpoint inhibitors. Currently, TAVO™ is in its pivotal clinical trial for advanced melanoma (KEYNOTE-695).
"We are thrilled to advance our partnership with OncoSec as the clinical development of TAVO™ progresses," said Kevin R. Smith, Chief Executive Officer of Sirtex. "OncoSec is committed to bringing much-needed treatment options to patients with cancer, and we are excited to continue supporting them in that journey."
This agreement further extends the existing collaboration between Sirtex and OncoSec. Last year, Sirtex acquired an equity stake in OncoSec and entered an arrangement to assist OncoSec with pre-marketing activities for TAVO™ and its Visceral Lesion Applicator (VLA) product in exchange for a low single-digit royalty. More details of the transaction documents can be found in OncoSec's filings with the U.S. Securities and Exchange Commission.
"Our collaboration with Sirtex is a natural fit given our common mission to deliver more effective therapies to patients," said Daniel J. O'Connor, CEO of OncoSec. "We are thankful for Sirtex's continued support as we advance our TAVO™ clinical program and diligently work to bring this treatment option to market."
About Sirtex
Sirtex is a global healthcare business with offices in the U.S., Australia, Europe and Asia, working to improve outcomes in people with cancer. Sirtex's current lead product is a targeted radiation therapy for liver cancer called SIR-Spheres® Y-90 resin microspheres. For more information, visit www.sirtex.com. SIR-Spheres® is a registered trademark of Sirtex SIR-Spheres Pty Ltd.
APM-AP-003-01-21
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