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transgene PRESS RELEASE Transgene announces License Option Exercise by AstraZeneca for an Oncolytic Virus Generated by Transgene's Invir.10 ™ Platform Transgene to receive $ 8 million upfront option exercise payment Conference call today on December 15 , 2021 , at 6:00 p.m. CET ( 12:00 p.m. ET ) in English ( details at the end of the release ) - Strasbourg , France , December 15 , 2021 , 7:30 am CET Transgene ( Euronext Paris : TNG ) , a biotech company that designs and develops virus - based immunotherapeutics against cancer , announces that AstraZeneca ( LSE / STO / Nasdaq : AZN ) has exercised its first license option for an Invir.10 ™ oncolytic virus ( OV ) developed from their on - going OV collaboration . The exercise of this option for an OV , integrating an undisclosed transgene , will result in Transgene receiving an $ 8 million payment from AstraZeneca . Transgene is also eligible to receive development , regulatory and sales - based milestones payments as well as a royalty based on future commercial sales . Hedi Ben Brahim , Chairman and CEO of Transgene , commenting on today's news said , " We are delighted that AstraZeneca has decided to exercise its first license option for an oncolytic virus generated from our on - going Invir.10TM collaboration . We have developed a very productive working relationship with the AstraZeneca team and based on long standing expertise developing Vaccinia based viruses capable of carrying payloads that enhance the OV's antitumoral properties . We are looking forward to seeing this exciting OV candidate progress into clinical development . " Transgene's Invir.10 ™ collaboration agreement with AstraZeneca started in 2019. Under the terms of the agreement Transgene is contributing its OV expertise , including viral design , and engineering , to the collaboration . It is also providing access to its novel and improved Vaccinia Virus double - deleted ( TK- RR¯ ) backbone , which forms the basis for its Invir.10 ™ platform , and is responsible for in vitro preclinical development of the OV candidates generated from the collaboration . AstraZeneca has selected several transgenes to be integrated within candidates generated with the Invir.10 ™ viral backbone and is responsible for further in vivo preclinical development . Under the terms of the agreement , up to five novel oncolytic immunotherapies can be co - developed . Page 1/3