Bellicum Pharmaceuticals (NASDAQ: BLCM) stock is gaining premarket after the company and the University of Texas MD Anderson Cancer Center announced a global option and license agreement.
The agreement will cover certain intellectual property and technology rights regarding Bellicum’s CaspaCIDe safety switch and related technologies and the use of rimiducid, an agent used to activate the safety switch. MD Anderson will also have the option to incorporate CaspaCIDe into specific cellular therapy programs.
“We are excited to expand our CaspaCIDe agreement with MD Anderson to include a broader set of programs to benefit cancer patients,” said Rick Fair, President and CEO of Bellicum Pharmaceuticals.
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“We believe that our switch technology may enhance the benefit/risk profile of cell therapies. We intend to continue to pursue opportunities to expand its use via external collaborations with other leaders in the field.”
Upon exercise of each option, Bellicum will receive an upfront payment and are entitled to a percentage of a specific consideration paid to MD Anderson by the third party. In addition, Bellicum also will receive a single-digit-percent royalty on global sales of the product.
Bellicum’s share price has rallied 12.2% to $3.40 premarket.
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