LOS ANGELES, July 25, 2014 (GLOBE NEWSWIRE) -- Lion Biotechnologies, Inc. (OTCQB:LBIO), a biotechnology company that is developing novel cancer immunotherapies based on tumor infiltrating lymphocytes (TILs), today announced that it has entered into an exclusive, worldwide license agreement with Moffitt Cancer Center.
Under the terms of the agreement, Lion has licensed from Moffitt the rights to develop and commercialize new technologies to enhance TIL production from melanoma, which may be applicable to other tumor types that historically have not produced therapeutic TILs. The license is based on two provisional patent applications, filed under "Compositions and Methods for Improving Tumor-Infiltrating Lymphocytes for Adoptive Cell Therapy."
"TIL transfer can clearly confer a survival benefit to patients with melanoma, but it has been difficult to harvest TILs from other solid tumor types for therapeutic use," said Laszlo Radvanyi, PhD, Lion's chief scientific officer. "This licensing agreement with Moffitt gives us access to technologies that may allow us to enhance TIL production from these tumors, thereby unlocking the potential of TILs to treat, and possibly cure, certain cancers beyond melanoma."
Manish Singh, chairman and chief executive officer of Lion, added, "This license agreement represents an expansion of our intellectual property and technology portfolios that we are confident will ultimately lead to a broadening of our pipeline. Most importantly, the use of these technologies may lead to an extension of the benefits of TIL therapy to address several cancers that have significant unmet medical need. As we continue advancing our clinical programs in melanoma, we look forward to working with our long-time collaborators at Moffitt to develop and commercialize these new technologies in multiple tumor indications."
Jarett Rieger, director of Moffitt's office of technology management and commercialization, commented, "Moffitt Cancer Center is excited to forge a collaboration in the immunotherapy area with Lion Biotechnologies, a highly respected and highly talented organization. Our institution's intellectual capital and experience in TIL therapy are very synergistic with Lion Biotechnologies' strengths in commercializing new technologies."
About Lion Biotechnologies
Lion Biotechnologies, Inc. is engaged in the development of T-cells and engineered T-cells for the treatment of various cancers. The company's lead product candidate is a ready-to-infuse autologous T-cell therapy utilizing tumor-infiltrating lymphocytes (TILs) for the treatment of patients with Stage 4 metastatic melanoma, and is based on a clinical CRADA with the National Cancer Institute. TIL therapy is also being evaluated in physician-sponsored clinical trials at MD Anderson Cancer Center and the H. Lee Moffitt Cancer Center & Research Institute. For more information, please visit http://www.lionbio.com.
About Moffitt Cancer Center
Located in Tampa, Florida, Moffitt is one of only 41 National Cancer Institute-designated Comprehensive Cancer Centers, a distinction that recognizes Moffitt's excellence in research, its contributions to clinical trials, prevention and cancer control. Moffitt is the No. 1 cancer hospital in Florida and has been listed in U.S. News & World Report as one of "America's Best Hospitals" for cancer since 1999. With more than 4,200 employees, Moffitt has an economic impact on the state of nearly $2 billion. For more information, please visit www.moffitt.org.
This press release contains certain forward-looking statements that are subject to a number of risks and uncertainties, including the risk that the licensed technology may not perform as expected; the risk that the provisional patent applications covering the patent pending technology licensed by Lion Biotechnologies will not be granted or will not provide meaningful commercial protection; the risk that the licensed technology may infringe the proprietary rights of third parties; the need for substantial additional capital to fund development of the licensed technologies through to commercialization; the need to satisfy performance milestones to maintain the technology licenses with the H. Lee Moffitt Cancer Center; and the risk of obtaining any patents will provide commercially significant protection for the potential product candidate. Additional risks and uncertainties are described in Lion Biotechnologies' most recently filed SEC documents, such as its most recent annual report on Form 10-K, all quarterly reports on Form 10-Q and any current reports on Form 8-K. Lion Biotechnologies undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. CONTACT: Investor Relations The Trout Group Gitanjali Jain Ogawa 646-378-2949 firstname.lastname@example.org
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