Dx&Vx said it has signed its first-ever global out-licensing and co-development agreement with a U.S.-based biotech company for its proprietary mRNA cancer vaccine, in a deal valued at approximately 300 billion won ($215 million). The Korean company did not disclose the name of the U.S. firm. 

Under the agreement, Dx&Vx will grant the U.S. partner exclusive worldwide rights to its patented mRNA cancer vaccine candidate.

The deal includes milestone payments totaling about 300 billion won during the development phase, with additional sales milestone payments exceeding 10 percent of global sales for more than 15 years post-commercialization. 

Based on market projections, Dx&Vx estimates that its share of sales milestones could surpass 1.3 trillion won. Revenue-sharing terms after commercialization will be negotiated separately.

While Dx&Vx will continue to lead preclinical research, clinical trials from phase 1 to phase 3, and manufacturing, its U.S. partner will be responsible for global regulatory approvals, marketing, and commercialization. Other contractual details remain confidential by mutual agreement.

The mRNA cancer vaccine involved in the deal is one of Dx&Vx’s internally developed pipeline candidates, which demonstrated superior anti-cancer efficacy in preclinical animal studies compared to a competing global product currently in phase 2b trials. 

The candidate also incorporates Dx&Vx’s proprietary room-temperature, long-term storage mRNA vaccine platform technology, providing a competitive edge over existing technologies.

The U.S. biotech partner, known for its expertise in RNA-based drug development and platform technologies, initiated discussions with Dx&Vx during the J.P. Morgan Healthcare Conference and Biotech Showcase in January. 

“We are delighted to finalize our first global licensing agreement,” Dx&Vx CEO Kwon Kyu-chan said. “We deeply appreciate our partner’s recognition of our technological capabilities.”

This milestone will also have a positive ripple effect on licensing discussions for other pipeline assets currently under negotiation, Kwon added.