HALIFAX, Dec. 10 /CNW/ - 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
"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 infectious
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.
For further information:
For further information: Contact: ImmunoVaccine Technologies Inc.: Brian
Lowe, Vice President, (902) 492-1819, firstname.lastname@example.org; Media Contact:
Impact Communications Group: Jennifer Ayotte, (902) 209-4704,
email@example.com; Immunotope, Inc.: Lorraine Keller, Ph.D.,
Executive Vice President, (215) 589-6352, firstname.lastname@example.org; Media
Contact: Richard Lewis Communications, Inc.: Gregory Tiberend, (212) 827-0020,
email@example.com or Meghan Feeks, firstname.lastname@example.org