ROCKVILLE, Md., May 16, 2016 /PRNewswire/ -- At the North Bethesda Marriott, Maryland's leading technology and life science companies gathered to celebrate recent successes from the most innovative teams in the state on Thursday night's industry celebration.
At the dinner, Immunomic Therapeutics, Inc. was selected as the Life Science Company of the Year for Corporate Excellence. The award recognizes the novel dividend approach that CEO Bill Hearl (pictured at right) developed to create an impressive return for investors, without a negative effect on equity holdings. The dividend followed the strategic licensing of the LAMP platform, a unique immunotherapy technology. In 2015, Astellas Pharma, based in Japan, purchased rights to the technology to apply it to allergy and the deals totaled $370 million, with $315 million received as upfront payments.
"We look forward to continuing to build our company in Maryland and appreciate the Tech Council's recognition of our exciting year," stated ITI Chief Executive Officer Bill Hearl, PhD. "The LAMP-Vax technology platform has the potential to revolutionize vaccine efficacy through immune system re-education and we look to the remainder of 2016 and beyond with great anticipation of what is yet to come."
Event photos are available here.
About Immunomic Therapeutics
Immunomic Therapeutics, Inc. (ITI) is a privately-held clinical stage biotechnology company pioneering the study of the LAMP-based nucleic acid immunotherapy platforms. These disruptive technologies have the potential to fundamentally improve how we use immunotherapy for cancer, allergies and animal health. Headquartered in Hershey, PA with lab facilities in Rockville, MD, ITI has entered into a significant licensing agreement with Astellas Pharma Inc., to explore the use of LAMP-vax, a next-generation immunotherapy platform, for use to prevent and treat allergic diseases. ITI believes that LAMP-based nucleic acid immunotherapy may have the potential to broaden the current use of cancer immunotherapy. Preclinical data is currently being developed to explore how LAMP nucleic acid constructs could both amplify and activate the immune response in highly immunogenic tumor types and also be used to create robust immune responses to tumor types that otherwise do not provoke an immune response. For information about ITI and LAMP Technology, visit www.immunomix.com.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/immunomic-therapeutics-iti-named-company-of-the-year-by-the-tech-council-of-maryland-300269096.html
SOURCE Immunomic Therapeutics, Inc.