GRTS - Gritstone and Genevant Sciences ink license agreement for COVID-19 vaccine

Gritstone Oncology (GRTS) and Genevant Sciences, nucleic acid delivery company with world-class platforms and the industry's most robust and expansive lipid nanoparticle patent estate, inked a license agreement post which the former obtained a non-exclusive license to the latter's LNP technology to develop and commercialize self-amplifying RNA vaccines against SARS-CoV-2, the virus that causes COVID-19.Genevant's LNP platform is clinically validated and part of Gritstone's SAM neoantigen-based cancer immunotherapy now in Phase 2 testing.Under agreement terms, Genevant is eligible to receive from Gritstone up to $192M in upfront and contingent milestone payments per product, plus royalties ranging from the mid-single to the mid-double digits on future product sales.Wherein Gritstone outlicenses the COVID-19 program, Genevant may be entitled to a percentage of amounts that Gritstone receive.Shares trading 0.3% down premarket.

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Gritstone and Genevant Sciences ink license agreement for COVID-19 vaccine