HALIFAX, NS, July 14 /PRNewswire/ - ImmunoVaccine Technologies Inc. (IVT), a vaccine development company, has entered into an agreement to exclusively license seven cancer antigens from Immunotope Inc., an antigen discovery company. These proprietary antigens specifically target breast, ovarian and prostate cancers. IVT will combine the proprietary antigens with its DepoVax(TM) delivery platform to develop DPX-0907, a therapeutic cancer vaccine. Within the next six months the company will fast-track DPX-0907 into Phase 1 clinical trials.
"Advanced-stage breast, ovarian and prostate cancers remain devastating and challenging diseases that urgently need treatment options, and we are excited to use Immunotope's antigens in our platform" said Dr. Randal Chase, president CEO of IVT. "This licensing agreement significantly advances our cancer immunotherapy capabilities and represents our continued commitment to developing our DepoVax(TM) technology within a robust clinical trial program."
"This agreement combines our antigen discovery expertise with IVT's product development capabilities and we are pleased to have our antigens become part of such an innovative vaccine candidate," said Ramila Philip, president and CSO of Immunotope Inc.
Under the license agreement, IVT has agreed to an up-front payment, as well as future milestone payments and royalties to Immunotope for use of the antigens. This licensing agreement replaces the acquisition of Immunotope agreement.
DPX-0907 is a novel vaccine because of its potential to create a depot at the injection site and cause a strong, rapid, long-lasting immune response that specifically targets cancer cells.
ImmunoVaccine Technologies is strengthening its innovative vaccine pipeline through licensing and strategic partnering to develop therapeutic cancer and infection disease vaccines. In 2008, Pfizer Animal Health licensed its proprietary DepoVax(TM) technology for two livestock vaccines. With positive pre-clinical safety data and recent partnerships with LIAI, NIH, Yokohoma City University, Defence Research Development Canada and FIT Biotech, the value of Depovax(TM) has been brought into the limelight. www.immunovaccine.com.
This press release contains forward-looking information under applicable securities law. All information that addresses activities or developments that we expect to occur in the future are forward-looking information. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made. However, they should not be regarded as a representation that any of the plans will be achieved. Actual results may differ materially from those set forth in this press release due to risks affecting the Company, including access to capital, the successful completion of clinical trials and receipt of all regulatory approvals. IVT assumes no responsibility to update forward-looking statements in this press release.
SOURCE ImmunoVaccine Technologies Inc.
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