Vaximm and BCME link on oral cancer immunotherapy platform

Core Viewpoint - Vaximm has signed a non-binding term sheet with BCM Europe for a potential exclusive worldwide license for its oral cancer immunotherapy platform, VXM01, which includes a six-month exclusivity period for negotiations and due diligence [1] Group 1: Financial Terms - Vaximm is eligible for an upfront payment of $20 million and could earn up to $815 million in milestone payments related to commercial, clinical, and regulatory achievements [1] - BCME will transfer commercial royalties obtained from pharmaceutical partners after recovering milestone differentials through a defined delta-recovery mechanism [2] Group 2: Development and Collaboration - BCME will act as a financial intermediary, funding development and partnering activities to secure a global out-license with a significant pharmaceutical company [2] - The collaboration with BCME is expected to accelerate the development and global commercialization of VXM01 while allowing Vaximm to retain full ownership of its intellectual property [4] Group 3: Technological Integration - The term sheet outlines a mechanism for royalty participation based on blockchain technology, utilizing TAC tokens [4] - If Vaximm opts for capital from the BCM Royalty Fund, a designated share of future royalties may be allocated to TAC token holders; otherwise, royalties would be distributed exclusively through BCME [5] Group 4: Strategic Importance - The incoming CEO of Vaximm, Andreas Niethammer, emphasized that this term sheet represents a significant advancement for Vaximm and its VXM01 oral T-cell immunotherapy platform [3]