Immunomic Therapeutics Inc. Expands into South Korea
ITI is bringing its strategic business model to South Korea – designed to bring together the world’s leading experts and cutting-edge science to advance research in the Glioblastoma (GBM) field and to deploy ITI-1000 to the Asian population. ITI-1000 is a cell therapy powered by ITI’s UNITE platform that is currently being evaluated in a Phase II clinical trial (ATTAC-II) in collaboration with researchers at the University of Florida and Duke University. ITI-1001 is an alternative, cell-free approach to treating GBM. The company held a pre-IND meeting earlier this year for ITI-1001 and expects to be able to file an Investigational New Drug Application (IND) with the U.S. Food and Drug Administration (FDA).
The recent $61.3M financing led by HLB Co., LTD, a global pharmaceutical company focused on developing novel cancer drugs enables ITI to expand and form partnerships with local companies and research institutions to accelerate the development and commercialization of Korean pharmaceutical discoveries for the global markets.
“South Korea is an emerging center of biopharma research innovation, and we are excited to open ITI’s new office in a location where talented Korean researchers are doing groundbreaking work,” said William G. Hearl, CEO, Immunomic Therapeutics. “We look forward to collaborating with HLB Bio Group to raise Korea’s profile as a global center of biopharma innovation and make exceptional therapies available for patients.”
The new ITI office in South Korea is located in Teheran-ro, Gangnam-gu, Seoul, an area well established as a high-tech business zone in the city. Many Korean biopharma and biotech companies have headquarters in this area of Seoul.
In addition to its newly opened South Korean office, ITI headquarters is located in the U.S.
About Immunomic Therapeutics, Inc.
Immunomic Therapeutics, Inc. (ITI) is a privately-held, clinical stage biotechnology company pioneering the development of vaccines through its proprietary investigational technology platform, UNiversal Intracellular Targeted Expression (UNITE), which is designed to utilize the body’s natural biochemistry to develop vaccines that generate broad immune responses. UNITE has a robust history of applications in various therapeutic areas, including infectious diseases, oncology, allergy and autoimmune diseases. ITI is primarily focused on applying the UNITE platform to oncology, where it could potentially have broad applications, including viral antigens, cancer antigens, neoantigens and antigen-derived antibodies as biologics. The Company has built a large pipeline from UNITE with six oncology programs and two allergy programs. ITI has entered into a significant allergy partnership with Astellas Pharma and has formed several academic collaborations with leading Immuno-oncology researchers at Fred Hutchinson Cancer Research Institute, Johns Hopkins University of Medicine, and Duke University. ITI maintains its headquarters in Rockville, Maryland. For more information, please visit www.immunomix.com.
Source: Immunomic Therapeutics, Inc.