Norwegian biotech Nykode disclosed that Roche has ended their licensing deal for cancer vaccine candidate VB10.NEO, losing its shot at more than $500 million in milestones. The deal termination, effective Jan. 6, 2025, will see Nykode regain rights to the asset, which it may choose to out-license again."We remain confident in the clinical data generated so far and the continued potential of our personalised cancer vaccine VB10.NEO, and will determine the optimal path forward for the programme, including potential new partnerships," said Nykode CEO Michael Engsig.Nykode, formerly Vaccibody, first partnered with Roche's Genentech unit in 2020. Under the terms of the deal, Genentech made upfront and near-term payments comprising $200 million in exchange for an exclusive, worldwide licence to VB10.NEO, with the biotech eligible for up to $515 million in milestones, plus low double-digit tiered sales royalties.The deal termination appears to have come right before Genentech was due to take over the individualised neoantigen vaccine's clinical development. Nykode is conducting a Phase Ib study in locally advanced and metastatic solid tumours; the Roche unit was to assume responsibility after the trial's conclusion, which is expected this December, according to a ClinicalTrials.gov posting.Roche's decision to pass on the cancer asset may be part of a broader reassessment of the pharma's oncology aspirations. In August, the drugmaker announced that Genentech would dissolve its cancer immunology division as a free-standing entity and merge it with its molecular oncology research group. The structural shakeup comes as Roche has struggled to establish itself as an immuno-oncology market leader. For further analysis, see Spotlight On: Roche concedes that immuno-oncology needs a re-think.