Bio tech company, Immutep (ASX:IMM) has announced it will enter into a new clinical trial collaboration with CYTLIMIC.
The agreement enables the two parties to collaborate on clinical trials to evaluate Immutep's lead product "Efti" as part of a therapeutic cancer vaccine.
Under the deal, Immutep will receive an upfront payment of US$500 000 and is eligible to receive up to US$4.5 million in milestone payments.
Immutep says Efti is generating interest globally and is now being evaluated as three different combination therapy types, showing its broad potential.
Shares in Immutep (ASX:IMM) closed 3.3 per cent higher at 3 cents on Friday.