AVANT’s Celldex in 3M Pact (AVAN, MMM)
There was a collaboration pact that might have been an easy one to overlook. 3M Corp. (NYSE: MMM) has signed vaccine adjuvant licenses with a company called Celldex Therapeutics. As itturns out, Celldex is a wholly owned subsidiary of AVANT Immunotherapeutics, Inc. (NASDAQ: AVAN).
Celldex signed a multi-year clinical research collaboration with 3M to access their proprietary Immune Response Modifier Resiquimod and additional toll-like receptor agonists for clinical study with Celldex’s proprietary “Antigen Presenting Cell Targeting Technology” for use as vaccine adjuvants designed to treat various cancers and infectious diseases.
3M will provide its patented toll-like receptor (TLR) agonist compounds to Celldex for an undisclosed licensing fee, milestones and royalties.
Jon Ogg
June 11, 2008
Key Interviews & Data Out of ASCO (AVAN, PFE, CELG, IMCL, DNA)
Today we saw many stocks with key news events at the annual American Society of Clinical Oncology or “ASCO” conference in Chicago. Much of the data had been signaled a couple of weeks ago ahead of the conference, but many more data points were seen today or over the weekend. CNBC’s Mike Huckman got to cover many top issues, and he ran many video interviews today from some of the key movers. Here are some of the stocks they covered with the share price reaction:
- AVANT Immunotherapeutics, Inc. (NASDAQ: AVAN) +28% at $17.98.
- Celgene Corporation (NASDAQ: CELG) +0.56% to $61.20.
- Genentech Inc. (NYSE: DNA) +4.3% to $73.95.
- Imclone Systems Inc. (IMCL) -6.06% to $40.94.
- Pfizer Inc. (NYSE: PFE) -0.9% to $19.18.
Since CNBC had many of these interviews on an exclusive or near-exclusive basis, we’d suggest that you watch these video clips if you missed the news today as they all had market-moving data today or over the weekend.
Jon Ogg
June 2, 2008