2 January 2019 - - Austrian clinical stage biopharmaceutical company Hookipa Pharma Inc has achieved its first research milestone in its collaboration and license agreement with US-based Gilead Sciences, Inc., the company said.

The agreement, which was entered into in June 2018, grants Gilead exclusive rights to Hookipa's TheraT and VaxWave investigational arenavirus-based immunization technologies for the development of immunotherapies against hepatitis B virus and human immunodeficiency virus.

Hookipa has completed the first research milestone by designing and delivering 14 research-grade vectors to Gilead, along with the characterization of these vectors and delivery of a data package for the HIV program.

Pursuant to the terms of the agreement, Hookipa is entitled to a sizeable milestone payment from Gilead.

Under the terms of the agreement, Gilead provided an upfront payment of USD 10m and will fund all research and development activities.

Hookipa will be eligible to receive milestone payments based upon the achievement of specified development, regulatory, and commercial milestones up to a total of approximately USD 400m. HOOKIPA will also be eligible to receive tiered royalties on net sales.

Hookipa Pharma is a clinical stage biopharmaceutical company developing a new class of immunotherapeutics, targeting infectious diseases and cancers based on its proprietary arenavirus platform that is designed to reprogram the body's immune system.