09:29 AM EDT, 06/25/2024 (MT Newswires) -- Immutep ( IMMP ) said Tuesday it has signed an agreement with Cardiff University for exclusive rights to develop and commercialize small molecules that block the lymphocyte-activation gene 3 or LAG-3.

These molecules, identified through a collaboration with Cardiff University's scientists, can potentially block LAG-3, an immune checkpoint that diminishes the immune response against cancer, according to Immutep ( IMMP ).

The clinical-stage biotechnology company said that it has filed, together with Cardiff University, a joint patent application to protect this intellectual property.

Cardiff University will receive an upfront payment of 25,000 British pounds ($31,600), a milestone payment upon the first commercial sale, and low single-digit royalties on sales, Immutep ( IMMP ) added.

Shares of Immutep ( IMMP ) were up over 3% in recent Tuesday premarket activity.

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