Vaxalto Biotherapeutics Inc, a pre-clinical stage biotechnology company, has collaborated with Mount Sinai Innovation Partners, a part of the Icahn School of Medicine at Mount Sinai, it was reported on Wednesday.

The collaboration is aimed at developing novel cancer immunotherapies.

Under the collaboration, Mount Sinai has granted an exclusive, worldwide license to Vaxalto including intellectual property and technology regarding an avian paramyxovirus oncolytic virus platform and novel immuno-modulator aimed at the lymphatic system. This technology forms the core of Vaxalto's proprietary, multimodal therapeutic approach utilizing direct destruction of cancer cells, vascular and immune system activation.

'We are delighted to be partnering with Mount Sinai to develop our novel viral immunotherapy, which eliminates tumors following intra-tumoral administration and leads to long-term protection from cancer recurrence based on animal studies,' said Dr Mihaela Skobe, Vaxalto co-founder and Director, Laboratory for Metastasis and Lymphatic Research, Department of Oncological Sciences at Mount Sinai.