BriaCell spins off sCD80 cancer therapy to BriaPro subsidiary
BriaCell Therapeutics transfers exclusive license for Soluble CD80 cancer therapy to subsidiary BriaPro in deal valued at C$1.18 million, with BriaCell retaining 78% stake and providing $3 million credit facility.
BriaCell Therapeutics and its subsidiary BriaPro Therapeutics have announced a strategic transaction in which BriaPro will acquire BriaCell's exclusive license to develop and commercialize the cancer therapy Soluble CD80 (sCD80), along with associated assets. The deal is expected to close on or around March 12, 2026, pending shareholder approval and a third-party valuation confirming fair market value.
BriaCell originally secured the exclusive license from the University of Maryland, Baltimore County (UMBC) in August 2022. Developed by Suzanne Ostrand-Rosenberg, emeritus faculty at UMBC and a member of BriaCell's scientific advisory board, sCD80 is designed "to reverse immune suppression in cancer patients" and has shown in animal studies the potential to halt tumor growth while stimulating the immune system. Research indicates sCD80 could be effective across multiple tumor types.
Under the terms of the agreement, BriaPro gains worldwide development and commercialization rights for sCD80. UMBC retains all rights to the underlying patents, except for certain U.S. government rights. BriaPro will pay UMBC a 2% royalty on commercialized products, along with other development costs.
As part of the deal, BriaCell will provide up to $3 million in a credit facility to support BriaPro's ongoing R&D efforts, with drawdowns subject to BriaCell approval. In return, BriaPro will issue 23,972,589 common shares to BriaCell, valued at approximately C$1.18 million, boosting BriaCell's stake in BriaPro to roughly 78% post-transaction.
The President and CEO stated: "Our mission has been to develop safe and effective treatments for cancer patients who do not respond to existing treatments, and a transformational anti-cancer agent such as sCD80 may provide us with such an additional opportunity. Based on the promising data in animal studies, we plan to explore the potential use of sCD80 technology as a therapeutic agent in combination with our other immunotherapies or on its own."