Vascular Biogenics Ltd (NASDAQ:VBLT)

Vascular Biogenics Ltd (NASDAQ:VBLT) Signs Licensing Agreement

Vascular Biogenics Ltd (NASDAQ:VBLT)

Shares of Vascular Biogenics Ltd (NASDAQ:VBLT) gained 4.88% after the clinical stage biotechnology company announced the signing of an exclusive licensing agreement with NanoCarrier Co Ltd. The agreement is for the development and commercialization of ofranergene obadenovec (“VB-111”), an anti-angiogenic gene therapy.

Vascular Biogenics Ltd (NASDAQ:VBLT)

NanoCarrier Licensing Agreement

Under the terms of the agreement, NanoCarrier will develop and commercialize VB-111 for all indications. The company will also be responsible for all regulatory and other clinical activity necessary for VB-111 commercialization in Japan.

In return, Vascular Biogenics Ltd (NASDAQ:VBLT) is to receive an upfront payment of $15 million. It also stands to generate in excess of $100 million in development and commercial milestone payments. The company is also entitled to tiered royalties on net sales.

According to Chief Executive Officer, Dror Harats, the licensing agreement provides further validation of the potential of VB-111.

“Japan is potentially a large market opportunity for VBLT, and this agreement provides us with access to this important market as we continue to prepare for commercialization of VB-111 in recurrent glioblastoma (rGBM), and in other indications,” said Dror Harats, M.D., chief executive officer of VBL Therapeutics,” said Mr. Harats.

Vascular Biogenics Ltd (NASDAQ:VBLT) is currently trading at a key resistance level, above which it could make a push for its 52-week high of $7.35 a share. For the full year, the stock is up by more than 30% as it continues to trade in a strong uptrend.

Modiin Gene Manufacturing Plant

Separately, Vascular Biogenics Ltd (NASDAQ:VBLT) has opened a new gene therapy and manufacturing plant in Modiin Israel. The plant will be used to produce the company’s lead product candidate VB-111. The Facility is the first commercial-scale gene therapy plant and one of the largest in the world.

“The inauguration of the new facility represents a major milestone for VBL. Investing in the appropriate infrastructure is critical as we complete the necessary pre-launch activities for VB-111 and evolve from a small biotech enterprise into an integrated biopharma company,” said Ben Shapiro M.D Chairman of VBL Therapeutics.

The Modiin gene therapy manufacturing plant is capable of manufacturing a capacity of 1,000 liters scalable to 2,000 liters. The opening of the facility marks an important milestone as Vascular Biogenics Ltd (NASDAQ:VBLT) prepares for potential regulatory approval and commercialization of VB-111.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

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About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.

Vascular Biogenics Ltd (NASDAQ:VBLT) Releases Full Report for VB-111 Monotherapy in Phase II Study

Vascular Biogenics Ltd (NASDAQ:VBLT)

Vascular Biogenics Ltd (NASDAQ:VBLT) released a report from its exploratory Phase II trial of VB-111 in subjects with advanced, differentiated thyroid cancer. This report will be presented by Dror Harats, M.D., the CEO, at the FISEB conference in Eilat.

The details

Vascular Biogenics Ltd (NASDAQ:VBLT) reported that the primary objective of the study, defined as 6-month PFS-6 of 25%, was received with a dose response. 47% of subjects in the therapeutic-dose cohort achieved PFS-6, against 25% in the sub-therapeutic cohort, and both groups met the primary endpoint.

Decline in tumor measurement subsequent to the first dose was noted in 44% of subjects in the therapeutic-dose cohort, as against 9% in the sub-therapeutic-dose unit. An OS benefit was noted with a tail of over 40% at 3.7 years for this therapeutic-dose cohort. This is comparable to historical report for pazopanib*, a tyrosine kinase inhibitor, but most subjects in the VB-111 trial had tumors that initially had advanced on pazopanib or other kinase inhibitors.

Dr. Dror Harats, the CEO of Vascular Biogenics Ltd (NASDAQ:VBLT), reported that they are thrilled to witness dose-dependent responses and an OS benefit with VB-111 monotherapy, in people suffering with end-stage thyroid cancer and whose tumors failed to respond to numerous lines of therapies, including kinase inhibitors.

This trial, together with Phase 2 studies demonstrating promise for VB-111 in repeated glioblastoma and platinum resilient ovarian cancer, indicate a prospective therapeutic application of VB-111 across numerous solid tumors. They look forward to progressing VB-111 towards commercialization, via ongoing Phase III pivotal GLOBE study in rGBM and the planned Phase III study in ovarian cancer.

Vascular reported that the open-label dose-escalating trial enrolled subjects with advanced, recently progressive, distinguished thyroid cancer that was impassive to radioactive iodine, in two units. Most people have tumors that failed responding to numerous treatments prior to registration, including kinase inhibitors and radiation. There are as many as 1,850 yearly thyroid cancer deaths in the United States.

FISEB is an alliance of 31 Israeli societies of investigational biology. ILANIT’s conference is planned every 3 years in Eilat, with attendance by students and researchers. This year’s conference was the culmination of the most remarkable research planned in Israel in numerous disciplines.

Vascular Biogenics Ltd (NASDAQ:VBLT) witnessed a loss of -21.05% in recent trading session with closing price of $4.50. The stock as of last trading session was almost 68% up from its 52-week low and was around 45.80% behind its 52-week high.

3/22/2017
Ticker Symbol VBLT
Last Price a/o 3:21 PM EST  $4.50
Average Volume 79.18K
Market Cap (mlns)  $121.05M
Shares Outstanding (mlns) 26.90M
Share Float (mlns) 23.51M
Inside Ownership 4.02%
Short Float 0.95%
Short Interest Ratio 2.81
Quarterly Return -3.23%
YTD Return -7.22%
Year Return 26.76%

I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.

About the author: Monica Gray has an undergraduate degree in Accounting and an MBA – earned with Honors. She has six years of experience in the financial markets and has been a securities analyst for the past two years.