OSR Company Vaximm has signed a non-binding term sheet with BCM Europe for an exclusive worldwide license for its oral cancer immunotherapy platform, VXM01. The agreement includes a six-month exclusivity period for negotiations, with Vaximm eligible for an upfront payment of $20m and potential milestone payments of up to $815m.

BCME, a Swiss-based life sciences investor, will serve as a financial intermediary and fund development activities to secure a global out-license with a major pharmaceutical company. The financing model resembles those of Blackstone Life Sciences and Royalty Pharma, offering capital in exchange for milestone-based returns or royalties.

Vaximm’s incoming CEO, Andreas Niethammer, views the collaboration with BCME as a significant step forward for the company’s oral T-cell immunotherapy platform, VXM01. The partnership aims to accelerate development and global commercialization while allowing Vaximm to retain full ownership of its intellectual property.

The term sheet also outlines a novel mechanism for royalty participation using blockchain technology and TAC tokens. Future royalties may be allocated to TAC token holders if Vaximm opts for capital from the BCM Royalty Fund, otherwise, royalties will be distributed through BCME.

During the exclusivity period, BCME and Vaximm will collaborate on due diligence and finalizing the license structure. Vaximm will retain full intellectual property rights, with BCME gaining exclusive global rights only upon agreement execution. This collaboration aims to advance the development and delivery of innovative immunotherapies to patients worldwide.

Read more at Yahoo Finance: Vaximm and BCME link on oral cancer immunotherapy platform