CIRCIO HOLDING ASA Circio Holding ASA announced that it has terminated the exclusive TG01 KRAS cancer vaccine license option agreement with IOVaxis therapeutics in Greater China and Singapore. On 1 March 2024, IOVaxis Therapeutics' IND-application to initiate TG01 clinical development in China was approved, triggering a USD 3 million license fee to Circio. Circio initially granted IOVaxis a six-month payment extension following an immediate USD 300,000 down-payment.
However, despite multiple exchanges with IOVaxis, the agreed USD 300,000 down- payment has not been made and no plan has been provided to do so. Circio currently has three ongoing collaborative TG01 clinical trials with industry and academic partners in the USA and Europe in RAS-mutated multiple myeloma, pancreatic and lung cancer, which are unaffected by this license termination in China.
