VBL grants NanoCarrier Japanese rights to GBM gene therapy

Vascular Biogenics Ltd. (NASDAQ:VBLT) granted NanoCarrier Co. Ltd. (Tokyo:4571) exclusive rights to develop and commercialize ofranergene obadenovec (VB-111) in Japan for $15 million up front and up to $100 million in milestones, plus tiered royalties in the high teens. VBL gained $0.30 to $6.45 on Monday.

Last month, VBL reported that an independent DSMB recommended completion of the Phase III GLOBE trial of the anti-angiogenic in recurrent glioblastoma based on a safety review. The company expects top-line data next quarter. A spokesperson told BioCentury VB-111 could be on the market in 2H19...