Immunotope, Inc. Receives Second Investment from Ben Franklin Technology Partners of Southeastern PA
Published: Jun 26, 2007
DOYLESTOWN, Pa., June 26 /PRNewswire/ -- Immunotope Inc. announced today that Ben Franklin Technology Partners of Southeastern PA (BFTP/SEP) has made a second $350,000 investment to continue funding the company's Phase I IMT- 1012 immunotherapeutic vaccine clinical trial. BFTP/SEP made a first $350,000 investment in August 2006, enabling the company to manufacture the vaccine and obtain necessary regulatory approvals. The second investment will fund patient treatment and evaluation studies.
Immunotope's IMT-1012 multivalent cancer therapeutic vaccine is the first cancer vaccine to combine 12 different novel antigens that each target a different, critical pathway present in highly aggressive ovarian and breast tumors. IMT-1012 is designed to destroy tumor cells and prevent recurrence and metastasis through activation of long-lasting, systemic cellular immunity. The vaccine is being developed to treat advanced-stage ovarian and breast cancer patients who typically experience cancer recurrence within 10 months after surgery, and for whom there are no further treatment options.
Ramila Philip, Ph.D., Immunotope President and Chief Scientific Officer, stated, "This clinical study is a significant step forward for our therapeutic vaccine platform. We are pleased by BFTP/SEP's timely support for a treatment that we believe may have significant advantages over existing standards of care and other therapies now being tested in the clinic. Because this novel antigen mixture targets multiple critical tumor pathways, we believe that it has the potential to redefine the future of immunotherapeutic vaccine design for many forms of cancer."
About Immunotope, Inc.
Immunotope is a clinical stage biotechnology company developing immunotherapy products for the treatment of cancer and chronic viral infections. Immunotope focuses on the critical, unmet need to diagnose cancer at its earliest stages and to provide effective treatments that destroy tumors and prevent recurrence and metastasis. The company's lead product, the IMT- 1012 multivalent therapeutic vaccine, is now being evaluated in a Phase I clinical trial at the Duke University Comprehensive Cancer Center in advanced- stage ovarian and breast cancer patients. Immunotope's viral immunotherapy program is centered on vaccines for the treatment and prevention of chronic hepatitis, Dengue Virus, influenza and HIV. Immunotope is also developing autoantibody-based tests for early diagnosis of ovarian and prostate cancer. www.immunotope.com
Since 1982, Ben Franklin Technology Partners of Southeastern Pennsylvania has served as a catalyst for stimulating entrepreneurial potential by developing systems to accelerate the transition of scientific discovery and technology development to commercialization. Part of a statewide network in Pennsylvania, BFTP/SEP provides entrepreneurs and established businesses the capital, knowledge and networks they need to compete in the global marketplace. BFTP/SEP has provided more than $130 million to over 1,600 regional enterprises. BFTP/SEP is a founding partner of the Nanotechnology Institute (NTI) and the Mid-Atlantic Nanotechnology Alliance (MANA(R)), and is funded by Pennsylvania's Department of Community and Economic Development. For additional information, visit www.sep.benfranklin.org
Contacts: Immunotope, Inc.: Lorraine Keller, Ph.D., Executive Vice President 215-589-6352 or firstname.lastname@example.org Richard Lewis Communications, Inc., Gregory Tiberend 212-827-0020 or email@example.comImmunotope Inc.
CONTACT: Lorraine Keller, Ph.D., Executive Vice President, ImmunotopeInc., +1-215-589-6352, or firstname.lastname@example.org, or Gregory Tiberend ofRichard Lewis Communications, Inc., +1-212-827-0020, email@example.com, for Immunotope Inc.