LOS ANGELES, July 23, 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 a five-year lease agreement for a new research laboratory at University of South Florida Research Park in Tampa, FL.
The new, 5,100 sq. ft. facility will focus on translational research and process development for TILs, as well as basic research. Over the next year, the company plans to hire up to ten employees at the facility to support the development of new TIL technologies, including genetically modified TILs and next-generation TIL products for melanoma and other solid cancers.
According to Manish Singh, PhD, Lion’s chairman and chief executive officer, these enhanced and genetically engineered TILs are being developed to provide numerous benefits, including greater potency and persistence, lower cost of goods, more efficient manufacturing, and stronger intellectual property protection. In addition, he says, some of these new TIL products will be optimized for combination with checkpoint inhibitors, which may enable a more powerful and synergistic immune response.
The scientific activities at the new research facility will be led by Laszlo Radvanyi, PhD, who recently joined the company as chief scientific officer. One of the world’s foremost experts on TILs, Dr. Radvanyi served as professor of melanoma and breast medical oncology at MD Anderson Cancer Center for the last nine years.
Dr. Singh commented, “This new research facility will allow us to take critical steps toward developing the next generation of TIL technologies — a key objective of our CRADA with the National Cancer Institute, and a key component of Lion’s strategy. Under Dr. Radvanyi’s leadership, we are looking forward to working with a team of distinguished scientists to drive these innovations, as we continue to advance our ongoing clinical programs in metastatic melanoma.”
About Lion Biotechnologies
Lion Biotechnologies, Inc. is focused 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. Based on a Cooperative Research and Development Agreement 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 & Research Institute. For more information, please visit http://www.lionbio.com.
CONTACT: Investor Relations The Trout Group Gitanjali Jain Ogawa 646-378-2949 gogawa@troutgroup.com
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