CELLDEX OVERVIEW Celldex Therapeutics, Inc. has developed a significant pipeline of novel immunotherapy candidates to treat cancer and other difficult-to-treat diseases based on its comprehensive Precision Targeted Immunotherapy (PTI) Platform. PTI uses a combination of targeted strategies: monoclonal antibody technology, APC (Antigen Presenting Cell) Targeting Technology™ and immune system modulators, each working through specific complementary mechanisms to harness the power of the patient’s immune system and optimize the attack of the disease. Celldex’s deep scientific and development leadership has resulted in a number of diseasespecific drug candidates for internal and collaborative development opportunities. Celldex’s lead candidate, CDX-110, is in trials for a severe form of brain cancer called glioblastoma multiforme (GBM). Phase 2 trials have indicated a significant survival benefit compared with matched historical controls. Celldex has partnered CDX-110 with Pfizer to provide substantial development and financial resources for this potential cancer therapy. Celldex also has several antibody-based programs in clinical development for cancer indications including antibody-drug conjugates (ADC) for treatment of melanoma and breast cancer and two antibody-targeted vaccines for treatment of various cancers.
Celldex Receives $3 Million Sublicense Income Payment from TopoTarget NEEDHAM, Mass., Feb 16, 2010 (BUSINESS WIRE) -- Celldex Therapeutics, Inc. (NASDAQ: CLDX) today announced that it has received a sublicense income payment of $3 million from TopoTarget A/S (NASDAQ-OMX: TOPO.CO) as a result of the recent co-development and commercialization agreement between TopoTarget and Spectrum Pharmaceuticals, Inc. (NASDAQ: SPPI) for Belinostat, a novel histone deacetylase (HDAC) inhibitor for the treatment of cancer. In this transaction, TopoTarget granted Spectrum a license for the co-development and commercialization of Belinostat in North America and India, with an option for the Chinese rights, in exchange for an upfront cash payment of $30 million.
Based on an April 2008 agreement in which a Celldex-acquired company, CuraGen Corporation, sold the Belinostat rights to TopoTarget, Celldex is entitled to, among other provisions, 10% of any sublicense income received by TopoTarget for Belinostat up to $6 million in the aggregate. Celldex acquired CuraGen in October 2009. Under the April 2008 agreement, TopoTarget assumed all financial and operational responsibility for the clinical development of Belinostat.
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