Singapore- Tocagen enters into a license agreement with ApolloBio affiliate Beijing Apollo Venus Biomedical Technology for exclusive rights to commercialize lead cancer immunotherapy Toca 511 & Toca FC in greater China (includes Hong Kong, Macau and Taiwan).

Under the terms of the deal, Tocagen will receive $16M upfront, $4M in near-term milestones, up to $111M in future milestones and tiered low double-digit royalties on net sales.

"As an innovative biopharmaceutical company in China, ApolloBio is well positioned to leverage China's recent regulatory changes supporting the development of new medicines," said Marty Duvall, chief executive officer of Tocagen. "ApolloBio brings valuable regional expertise in product development, regulation and healthcare access, positioning our lead product to advance towards patients in the greater China region as quickly and efficiently as possible."