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BRIEF-Avid Bioservices, Oncologie Enter Into Asset Assignment, Purchase Agreement For Avid's PS-Targeting Program Including Bavituximab

Feb 12 (Reuters) - Avid Bioservices Inc:

* AVID BIOSERVICES AND ONCOLOGIE ENTER INTO ASSET ASSIGNMENT AND PURCHASE AGREEMENT FOR AVID’S PS-TARGETING PROGRAM INCLUDING BAVITUXIMAB

* AVID BIOSERVICES INC - AVID WILL RECEIVE $8 MILLION IN UPFRONT PAYMENTS FROM ONCOLOGIE PAID OVER A PERIOD OF SIX MONTHS FROM EXECUTION DATE OF AGREEMENT

* AVID BIOSERVICES INC - AVID WILL BE ELIGIBLE TO RECEIVE UP TO $95 MILLION IN DEVELOPMENT, REGULATORY AND COMMERCIALIZATION MILESTONES

* AVID BIOSERVICES - ONCOLOGIE TO BE RESPONSIBLE FOR FUTURE RESEARCH, DEVELOPMENT & COMMERCIALIZATION OF BAVITUXIMAB, RELATED INTELLECTUAL PROPERTY COSTS

* AVID BIOSERVICES INC - ONCOLOGIE WILL ENTER INTO DEAL WITH AVID FOR FUTURE CONTRACT DEVELOPMENT AND MANUFACTURING ACTIVITIES IN SUPPORT OF BAVITUXIMAB Source text for Eikon: Further company coverage:

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