OncoSec Secures License for Electroporation Intellectual Property from University of South Florida Exclusive License Extends Patent Protection for ImmunoPulse Technology
SAN DIEGO, Sept. 11, 2012 /PRNewswire/ -- OncoSec Medical Inc. (OTCBB: ONCS), a company developing its advanced-stage ImmunoPulse and NeoPulse therapies to treat solid tumor cancers, announced it has secured an exclusive license for specific patented technology from the University of South Florida Research Foundation (USFRF) relating to the delivery of gene-based therapeutics via intratumoral and intramuscular electroporation. This patent is directly related to the ongoing Phase II trials for metastatic melanoma, Merkel cell carcinoma and cutaneous T-cell lymphoma using the company's ImmunoPulse therapy, and extends patent protection for the ImmunoPulse technology to the year 2024. Financial terms of this agreement were not disclosed.
OncoSec's proprietary gene and drug delivery platform, the OncoSec Medical System (OMS) electroporation device, is currently being used to develop the company's ImmunoPulse and NeoPulse therapies. This platform encompasses patents, technology and other intellectual property for intratumoral methods for delivering drugs and gene-based treatments in humans.
ImmunoPulse involves the application of a brief electric field to the surface of the skin. This temporarily opens pores in the cell membrane, allowing anti-cancer agent DNA IL-12, to be absorbed more efficiently. DNA IL-12, which normally has difficulty penetrating the tumor cell membrane to get inside these cells, has been shown to significantly stimulate the immune system's T-cells to fight the cancer. The new license from USFRF complements OncoSec's seminal patents, particularly for the protection of the methods involved in the ImmunoPulse treatment, and specifically for the use of DNA IL-12.
"Our licensing agreement with the USFRF significantly strengthens OncoSec's intellectual property rights in the area of gene and drug delivery via in vivo electroporation," said Punit Dhillon, OncoSec's President and CEO. "We anticipate that the further development of this technology will enhance the ability of ImmunoPulse to address the serious unmet need among patients with skin cancer. OncoSec's patent portfolio places us in a preeminent position within the field of electroporation-based delivery of gene-based treatments for cancer."
"OncoSec is the ideal choice to further develop this technology that I and my colleagues pioneered while working at the University of South Florida, and I am pleased they have secured this license," said Richard Heller, Ph.D., author of the patented technology. "The technology involves short-pulsed electric fields that can deliver plasmid DNA to stimulate the immune system. As a result, it is a natural fit with OncoSec's ongoing program to develop its ImmunoPulse therapy."
About OncoSec Medical Inc.
OncoSec Medical Incorporated is a biopharmaceutical company developing its advanced-stage ImmunoPulse, NeoPulse therapies to treat solid tumor cancers and metastatic disease. ImmunoPulse and NeoPulse therapies address an unmet medical need and represent a potential solution, for less invasive and less expensive therapies that are able to minimize detrimental effects resulting from currently available cancer treatments such as surgery, systemic chemotherapy or immunotherapy and other treatment alternatives. OncoSec's core technology is based upon its proprietary use of an electroporation platform to dramatically enhance the delivery and uptake of a locally delivered DNA-based immunocytokine (ImmunoPulse) or chemotherapeutic agent (NeoPulse). Treatment of various solid cancers using these powerful and targeted anti-cancer agents has demonstrated selective destruction of cancerous cells while sparing healthy normal tissues during early and late stage clinical trials. OncoSec's clinical programs include three Phase II clinical trials for ImmunoPulse targeting lethal skin cancers. More information is available at http://www.oncosec.com/Additional information may also be found at OncoSec's Facebook, Twitter, and LinkedIn sites.
This press release contains forward looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this release that are not historical facts may be considered such "forward looking statements." Forward looking statements are based on management's current preliminary expectations and are subject to risks and uncertainties which may cause our results to differ materially and adversely from the statements contained herein. Some of the potential risks and uncertainties that could cause actual results to differ from those predicted include our ability to raise additional funding, our ability to acquire, develop or commercialize new products, uncertainties inherent in pre-clinical studies and clinical trials, unexpected new data, safety and technical issues, competition and market conditions. These and additional risks and uncertainties are more fully described in OncoSec's filings with the Securities and Exchange Commission. Undue reliance should not be placed on forward looking statements which speak only as of the date they are made. OncoSec disclaims any obligation to update any forward looking statements to reflect new information, events or circumstances after the date they are made, or to reflect the occurrence of unanticipated events.
SOURCE OncoSec Medical Inc.