Singapore, July 27 -- South Korea-based startup Progeneer has signed a non-exclusive licensing agreement worth up to $390 million (approximately KRW 585 billion) with a US biotechnology company for its next-generation adjuvant platform, 'ProLNG'.

Under the terms of the agreement, the ProLNG technology will be applied to four cancer vaccines currently under development by the US biotech company. The deal, structured with development and commercialisation milestones, is valued at up to $390 million, with Progeneer also set to receive royalties upon successful product commercialization.

By mutual agreement, the specific details of the contract remain confidential. However, Progeneer stated that negotiations for additional joint research co...