Singapore, Aug. 19 -- Avixgen, a subsidiary of South Korea-based Dx&Vx, has signed a licensing-out agreement worth approximately $360 million with a US biotechnology company for its next-generation drug delivery platform, ACP (Advanced Cell Penetrating Peptide). Avixgen is a drug development company in which Dx&Vx holds a 66.2% stake.

Through the licensing-out agreement, Avixgen grants the partner company, a US biotechnology company, a limited exclusive license of ACP patents, and the partner applies and develops them only for its own drug development candidates.

The partner will pay Avixgen a total of $360 million in upfront and development milestone payments. Royalties for 10 years after commercialisation are separate. Other specific ...