(Reuters) - Vical Inc (VICL.O) licensed its DNA immunization technology platform and its vaccine adjuvant to Bristol-Myers Squibb Co (BMY.N), sending its shares up as much as 14 percent before the bell.
Under the non-exclusive, global license, Bristol-Myers will use Vical’s technology to discover antibodies.
Vical will also supply its product Vaxfectin, an adjuvant which has been proven to improve immune response to vaccines, to Bristol-Myers from time to time.
Financial terms of the deal were not disclosed. San Diego-based Vical had cash and investments of about $97 million as of June 30, 2012.
The company’s shares, which have lost about 15 percent of their value this year, were up 14 percent at $4.30 in trading before the bell on Thursday.
Reporting by Vidya P L Nathan; Editing by Sreejiraj Eluvangal