Shionogi & Co. Ltd. will pay $2 million for an exclusive option to evaluate Genocea Biosciences Inc.'s proprietary antigens to develop a vaccine for genital herpes.

Under the material transfer agreement, Japanese pharmaceutical company Shionogi will evaluate certain herpes simplex virus type 2, or HSV-2, antigens from Genocea's GEN-003 program, which the Cambridge, Mass.-based company discontinued in 2017.

Genital herpes is a sexually transmitted infection caused by HSV-2.

Shionogi will have the option to negotiate a license before the material transfer agreement expires.

If Shionogi chooses to exercise the option, the terms of the deal are expected to include an upfront fee, regulatory and sales milestones, as well as royalties. Shionogi will be responsible for the global development and commercialization of the potential HSV-2 vaccine.

The final terms of the license agreement will be tied to the results of the evaluation of the antigens and overall diligence, Genocea said in May 19 press release.