Immune Pharmaceuticals Oncology Unit Reaches Licensing Agreement

Immune Pharmaceuticals shares were up over 7% Thursday morning after Immune’s oncology subsidiary, Cytovia Inc. said it reached “substantial agreement” on the material terms of a licensing and commercialization agreement of Ceplene in Latin America with Pint Pharma S.A.

The company had previously entered into a letter of intent with Pint, which provided that the parties would use their best efforts to reach agreement regarding the terms of an exclusive license which would provide Pint the rights to commercialize Ceplene throughout Latin America, including Argentina, Brazil, Chile, Colombia and Mexico within 60 days. The parties currently anticipate that they will execute a definitive licensing agreement within the next five to seven business days. Ceplene is currently the only drug approved in 30 European countries and Israel for the maintenance of first remission in acute myeloid leukemia, the company noted.