Arovella Therapeutics (ASX:ALA) secured an exclusive six-month option to license chimeric antigen receptors from the Baylor College of Medicine in Texas, according to a Monday filing with the Australian bourse.

The option covers two chimeric antigen receptors (CARs) targeting GD2 and GPC3, clinically validated targets in cancers such as neuroblastoma, glioma, and hepatocellular carcinoma, the filing said.

If exercised, the license would allow Arovella to incorporate the CARs and additional enhancements into its allogeneic CAR-iNKT cell therapies, the filing added.

No upfront fee was paid for the option. During the option period, Baylor is restricted

from offering the technologies to other parties in the same field, the company said.

The parties intend to negotiate a definitive licence agreement if Arovella proceeds, the company added.

Shares of Arovella Therapeutics rose past 2% in recent Monday trade.