SEATTLE (November 2,2010) – Etubics Corporation, a clinical-stage biotechnology company with a proprietary Adenovirus Vector Vaccines Platform (AVVP) technology that enables the rapid generation of therapeutic and preventative vaccines, announced today that it was awarded a grant of approximately $244,479.25 under the United States Government Qualifying Therapeutic Discovery Project (QTDP) program.
The QTDP, created by U.S. Congress as part of the Patient Protection and Affordable Care Act of 2010, is designed to promote medical research that could improve health and save lives. The QTDP targets projects that show potential to produce new therapies, reduce long-term health care costs, or advance the goal of curing cancer within the next 30 years.
Etubics will use the grant to further its therapeutic colon cancer vaccine program, which is currently in Phase I Clinical Trials at Duke University. Etubics therapeutic colon cancer vaccine utilizes the company's novel AVVP technology to target carcinoembryonic antigen (CEA) expressing cancers. CEA is over-expressed in colorectal cancers, as well as a small percentage of lung, breast and pancreas cancers. Etubics therapeutic colon cancer vaccine is designed to show a cell mediated immunity response in patients which could result in reduction of tumor size and increased levels of anti-cancer immunity as seen in preclinical models. The trial is funded by peer-reviewed grants and contracts from the National Cancer Institute (NCI).
About Etubics
Etubics Corporation is a Seattle based biopharmaceutical company developing "next generation" vector vaccine candidates that are intended to immunize and treat large worldwide populations from difficult to treat diseases such as select cancers, influenza viruses, HIV, and malaria. The Company’s novel adenovirus vector technology is being developed to help overcome the rare adverse effects that have significantly reduced commercial interest in the technology. Etubics was established by Dr. Frank R. Jones and is currently engaged in research, development of its proprietary and novel adenovirus vector vaccine candidates. www.etubics.com.
Statements herein relating to future financial, business performance, conditions or strategies and other financial and business matters, including expectations regarding future revenues and operating expenses, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act. Etubics is a private company. Etubics cautions that these forward-looking statements are subject to numerous assumptions, risks and uncertainties which change over time. Factors that may cause actual results to differ materially from the results discussed in the forward-looking statements or historical experience include risks and uncertainties, including the failure by Etubics to secure and maintain relationships with collaborators; risks relating to the early state of Etubics’s product candidates under development; uncertainties relating to clinical trials; risks relating to the commercialization, if any, of Etubics proposed candidates; dependence on the efforts of third parties; dependence on intellectual property; and risks that it may lack the financial resources and access to capital to fund its operations. Further information on the factors and risks that could affect Etubics business, financial conditions and results of operations, are contained in Etubics’s documents on file at the Company. These forward-looking statements speak only as of the date of this press release and Etubics assumes no duty to update forward-looking statements.
Investor/Media contact:
Ms. Kimberly Jones
Phone: (206) 838-5110 Ext. 110
kimberly@etubics.com