- New office in Amsterdam will be the second location in Europe for Rakuten Medical; Taipei is the second office in Asia
- Additional hires across the globe will support the company's accelerated growth within biotechnology sector
SAN MATEO, Calif., May 31, 2019 /PRNewswire/ -- Rakuten Medical, a clinical-stage biotechnology company developing precision-targeted cancer therapies based on its proprietary photoimmunotherapy (PIT) platform, has established new office locations in both Amsterdam, Netherlands and Taipei, Taiwan to further strengthen its position in these geographic areas.
The Amsterdam-based office will serve as Rakuten Medical's European headquarters, while its office in Germany, which opened in 2016, will continue to be the development and manufacturing base for its proprietary PIT devices. The Taipei entity location will be a subsidiary of Rakuten Medical Japan and support the growth and future commercial launches. Both locations are an important foothold to further broaden the company's capabilities and global presence, and to support ongoing efforts of its global, Phase 3 clinical trial, as well as other ongoing and future studies.
"Rakuten Medical is poised to become a fully integrated biotechnology company, and we are gearing up to build and commercialize a strong pipeline of anti-cancer therapies based on our proprietary photoimmunotherapy platform," said Mickey Mikitani, chairman and CEO of Rakuten Medical. "Expanding our presence in Europe and Asia is critical for us to deliver upon our mission of conquering cancer, and delivering safe and effective treatments that could transform and improve the lives of patients globally."
Photoimmunotherapy (PIT) is an investigational, anti-cancer treatment platform that is comprised of a drug and device combination that utilizes monoclonal antibodies conjugated to a dye (IRDye® 700DX). Transient excitation of IRDye 700Dx with non-thermal red light (690 nm) is believed to result in anti-cancer activity, which is mediated by biophysical processes that may compromise the membrane integrity of cells. The requirement of targeted binding of antibody-IR700 conjugate to a specific antigen on the cell surface and subsequent illumination is believed to result in rapid and selective cell killing and tumor necrosis with minimal effects on surrounding normal tissue. PIT may also lead to the systemic induction of innate and adaptive immunity.
About Rakuten Medical
Rakuten Medical is a privately funded, clinical-stage biotechnology company with offices in the U.S., Japan, Taiwan, Germany and Netherlands. Rakuten Medical aims to become a leader in precision-targeted medicines through its proprietary photoimmunotherapy platform, which is being studied in ongoing clinical trials, evaluating its safety and effectiveness as a cancer-treatment option that can be administered independently, or in combination with other drugs. Rakuten Medical's lead product, ASP-1929, has achieved Fast Track designation from both the FDA and the Japanese Ministry of Health, Labour, and Welfare; and is in Phase 3 clinical trials for recurrent head and neck squamous cell carcinoma. Additional Phase 2 studies for ASP-1929 PIT are also underway to evaluate the safety in patients with other cancer types. For more information, visit www.rakuten-med.com.
Forward Looking Statement
This press release contains forward-looking statements made pursuant to the safe harbor provisions of the (United States) Private Securities Litigation Reform Act of 1995 that involve risks, uncertainties, and assumptions that could cause Rakuten Medical's actual results and experience to differ materially from anticipated results and expectations expressed in these forward-looking statements. These forward-looking statements include information concerning the commercialization of services related to Rakuten Medical products such as ASP-1929 and other initiatives toward regulatory approval to be sold and marketed. These products may not successfully be granted regulatory approval to be sold and marketed, or may not be commercially successful. Forward-looking statements suggest potential profitability, efficacy and safety, and the status of the application for approval. Rakuten Medical has in some cases identified forward-looking statements by using words such as "anticipates," "believes," "hopes," "estimates," "looks," "expects," "intends," "potential," "may," "suggest," "plans," "strategizes," "likely", "will", and similar expressions. Such forward-looking statements are based upon Rakuten Medical's current beliefs. Moreover, this press release states an opinion related to clinical research data, hence the use of expressions such as "important," "notable" and "abnormal." Ongoing clinical studies involve risks and uncertainties that could cause actual results to differ materially from those reflected in such statements, including uncertainty of success in regulatory approval or commercialization of ASP-1929 which may be impacted by, among other things, problems with the manufacturing process for ASP-1929, the occurrence of adverse safety events, failure to demonstrate therapeutic benefit, and the other risks and uncertainties, both reasonable and unreasonable. Rakuten Medical undertakes no obligation to release publicly the results of any revisions to any such forward-looking statements that may be made to reflect new information obtained, events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events, except as required by applicable law or regulation. In the event of one or more revisions to Rakuten Medical's forward-looking statement, it should not be inferred that such revisions or other forward-looking statements will be further revised.
SOURCE Rakuten Medical, Inc.