Medigene has announced that it has granted an exclusive worldwide licence for the development and commercialisation of its preclinical-stage adeno-associated virus-like particles (AAVLP) technology to 2A Pharma, a Swedish biotech company. The financial details of the agreement are not disclosed, although Medigene has indicated that it will receive clinical, regulatory and commercial milestone payments, as well as royalties on net sales based on the technology. This is another positive development, with Medigene continuing to streamline its focus on its immunotherapy programmes, while retaining potential value from its non-core assets. We maintain our valuation at €233m.

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