AUSTIN, Texas, Aug. 24, 2016 /PRNewswire/ -- Genprex, Inc. announced today that it has signed a capital markets advisory agreement with Network 1 Financial Securities, Inc. as a first step in the Company's plan for funding its capital needs as it enters into advanced clinical trials for its lead drug candidate. Upon completion of the initial phase of this agreement, which is expected to occur well before the end of this year, the Company intends to put in place an overall plan with Network 1 Financial to provide for its immediate and long term capital needs and for the ultimate goal of being a public company.
"Network 1 Financial is a highly regarded investment bank that has shown recent successes in helping other cancer biotech companies reach the public markets," said Chairman and CEO of Genprex, Rodney Varner. "After meeting with the fine team at Network 1 in New Jersey, we felt compelled and excited about their experience, depth of knowledge, and previous successes. We are looking forward to working with Network 1 to help us meet our financial needs and helping to develop our promising immuno-gene therapy and lead drug candidate Oncoprex as a revolutionary platform and treatment for non-small cell lung cancer."
Genprex is a privately held, clinical-stage biopharmaceutical company focusing on developing breakthrough immuno-gene therapies with their lead product Oncoprex. Oncoprex is currently in a Phase II clinical trial for the treatment of stage IV non-small cell lung cancer in combination with Tarceva. Oncoprex is a ubiquitous, revolutionary immuno-gene therapy that in clinical trials and pre-clinical studies has shown evidence of effectiveness in fighting non-small cell lung cancer and in boosting efficacy of other successful approved cancer treatments. The company was founded in 2009 and is headquartered in Austin, Texas.
About Oncoprex and Lung Cancer
Lung cancer is the second most common cancer in the U.S. but the leading cause of cancer death. There are approximately 225,000 new lung cancer cases in the U.S. per year and 1.8 million worldwide. The 5-year survival rate of stage IV non-small cell lung cancer is less than 1% and treatment options beyond chemotherapy are lacking. Approved NSCLC targeted treatment options outside of chemo/radiation therapy only benefit a minority of patients. Oncoprex may provide a targeted treatment option for a majority of NSCLC patients, and may increase the efficacy and expand patient populations of other approved treatments when used in combination with them. Oncoprex is currently being tested as a targeted treatment for EGFR wild/negative NSCLC patients which comprise about 85% of all NSCLC patients. Our immuno-gene therapies target key oncogenic pathways and immunotherapy responses to treat tumors and cancer metastases at the molecular and immune level without harming normal cells.
From research publications, over 80% of all cancer cells lack a tumor suppressor gene called TUSC2 (FUS1) which has shown in studies to control cell growth and cell death. Oncoprex is a TUSC2 gene encapsulated in fatty, positively charged nanovesicles transporting the TUSC2 gene which attach to cancer cells inducing cell death. The TUSC2 gene has also shown in previous scientific studies to be absent in small cell lung cancer, bone and soft tissue sarcoma, and breast cancer. Genprex works with world-class institutions and collaborators to in-license and develop drug candidates and controls 16 issued and 9 pending patents. Genprex is currently conducting a Phase II clinical trial of its Oncoprex FUS1/TUSC2 therapy in combination with Tarceva in non-small cell lung cancer in Houston, Texas.
The Company's products will broadly participate in the global oncology marketplace by addressing the unmet medical needs of cancer patients and expanding populations of patients benefiting from our combination treatments.
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SOURCE Genprex, Inc.