Immutep (ASX:IMM) has announced a new licence and collaboration agreement with Laboratory Corporation of America Holdings (LabCorp) that will support the development of immuno-oncology products or services.
Immutep is a biotechnology company developing novel immunotherapy treatments for cancer and autoimmune disease.
“Over the years, Immutep has generated a significant amount of know-how in immuno-oncology, specifically in terms of LAG-3”, said Immutep CEO Marc Voigt.
Under the terms of the Agreement, Immutep is eligible to receive an upfront fee of US$125,000 and potential further commercial milestones and service payments.
The milestone payments, which consist of up to three payments, are tied to the commercialisation of new drugs or new indications of existing drugs that require the use of an immuno-oncology diagnostic being developed by LabCorp.
Immutep said the agreement will continue until such time as the licensed technology and associated intellectual property have been exhausted and are in the public domain, or until terminated by either party.
Immutep said its collaboration with LabCorp is unrelated to any of its own in-house pharmaceutical development programs in cancer or autoimmune disease.
"Significantly, it enables Immutep to enter the immuno-oncology diagnostics field," said the company.