(Reuters) - ImmunoCellular Therapeutics Ltd signed a research and license option deal with Roche Holding AG, granting Roche rights to investigate the potential of its ICT-69 antibody in the diagnosis and treatment of multiple myeloma and ovarian cancer.
ImmunoCellular will get an unspecified upfront payment and upon completion of the evaluation period, Roche has the right to acquire a commercial license for ICT-69 for an option exercise payment, the biotechnology company said in a statement.
ImmunoCellular said it could receive up to $32 million in total payments from Roche if all developmental milestones are met.
Royalties will also be payable to ImmunoCellular based on Roche's worldwide sales of ICT-69 products, the statement said.
(Reporting by Shailesh Kuber in Bangalore; Editing by Aradhana Aravindan)