Genentech terminates agreement for Nykode cancer vaccine program

Nykode Therapeutics (VACBF) announced last night that it has received notification from Genentech, a member of the Roche (RHHBY), of its decision to terminate the collaboration and licensing agreement for Nykode’s VB10.NEO cancer vaccine program. With this notice, the existing collaboration and licensing agreement signed September 2020 will terminate effective January 6, 2025 and Nykode will regain control of VB10.NEO and its intellectual property portfolio along with rights to license the program. Nykode is not required to refund any upfront payments or make any future payments to Genentech on the termination. Following the news, Norda ASA said it acquired today 5M shares in Nykode Therapeutics at an average price of NOK 1.9172 per share. Christian Abyholm is Chairman of the Board of Norda and is a Member of the Board of Directors and primary insider in Nykode Therapeutics.