Date: Dec 10, 2001 Author: press release Source: PR Newswire (
click here to go to the source)
HALIFAX, Dec. 10 /PRNewswire/ - ImmunoVaccine Technologies Inc. (IVT),
a Nova Scotia-based vaccine enhancement company, has signed a binding
memorandum of understanding to acquire Immunotope Inc., a
Pennsylvania-based biotechnology company developing immunotherapy products
for the treatment and prevention of cancer and infectious diseases.
The acquisition will bring together IVT's signature VacciMax(R)
platform with Immunotope's portfolio of immunotherapeutic antigens and
antigen discovery platform, allowing the new private company to create an
entire pipeline of proprietary therapeutic cancer and infectious-disease
specific vaccines. The combined clinical-stage company will continue to
support Immunotope's ongoing Phase 1 immunotherapeutic vaccine clinical
trial in ovarian and breast cancer patients at Duke University
Comprehensive Cancer Center.
"IVT is continuously evaluating partnership opportunities," remarked
Dr. Randal Chase, president and CEO of IVT. "With this acquisition, we
enhance our research capabilities, expand our operations into the U.S., and
gain a distinct competitive advantage for our immunotherapy products."
Dr. Ramila Philip, President and CSO of Immunotope commented, "The
complementary scientific and management skills of IVT and Immunotope will
enable us to leverage our respective strengths and increase our capability
to develop therapeutic and prophylactic vaccines. Therapeutic cancer
vaccines that combine the right antigens with a powerful delivery system
have the potential to treat cancer early and prevent recurrence."
The full acquisition will be complete by June 2008.
About ImmunoVaccine Technologies Inc.
ImmunoVaccine Technologies Inc. (IVT) is a vaccine enhancement company
focused on the commercialization of its patented VacciMax(R) platform.
VacciMax(R) is a novel technology that can aid the development of new
vaccines in human health applications with potential for both therapeutic
cancer applications and preventative infectious disease vaccines. The
opportunities for market applications and medical benefits are broad, with
potential applications in cervical, melanoma, breast, prostate and colon
cancer treatments, as well as prevention therapies for influenza and other
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.