Shots:

• Novartis to receive up front- milestones on the initiation of dosing in different phases of clinical development and approval of the IOV-3001 in the US- EU- and Japan along with royalties on sales of the product
• Iovance to get right to develop & commercialize Novartis’ IOV-3001 and will focus on GMP manufacturing of IOV-3001 during 2020 with the expected initiation of IND-enabling activities in 2021
• IOV-3001 is an engineered IL-2 CDR graft targeting IL2R beta-gamma-expressing cells & limiting IL2R alpha-beta-gamma-dependent Treg activation with an improved half-life and better safety profile than other IL-2 inhibitors

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