Transgene announced that AstraZeneca has exercised its first license option for an Invir.IO™ 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. Transgene’s Invir.IO™ 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.IO™ 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.IO™ 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.