BioVex

The company's core business revolved around the development of oncolytic vaccines, a class of viruses engineered to selectively replicate in and destroy cancer cells while stimulating the patient's immune system to attack the tumor. The lead product, OncoVEX(GM-CSF), was a modified herpes simplex virus designed to treat solid tumors like melanoma and head and neck cancer. This product works by lysing cancer cells and releasing a substance called GM-CSF, which helps activate a systemic anti-tumor immune response. BioVex also developed a vaccine candidate, ImmunoVEX(HSV2), for the prevention and treatment of genital herpes.

On January 24, 2011, Amgen announced its agreement to acquire BioVex, a deal that was completed on March 4, 2011. The acquisition was valued at up to $1 billion, consisting of $425 million in cash upfront and up to $575 million in milestone payments. At the time of the acquisition, BioVex's lead product, OncoVEX(GM-CSF), was in late-stage Phase 3 clinical trials. Following the acquisition, the product was renamed Talimogene laherparepvec (T-VEC) and later approved by the FDA in October 2015 as IMLYGIC®, becoming the first oncolytic immunotherapy approved in the United States.