SEATTLE, July 27, 2015 /PRNewswire/ -- TapImmune, Inc. (OTCQB: TPIV), a clinical stage cancer immunotherapy company, is pleased to announce that the Company has exercised its option agreement with Mayo Clinic. TapImmune has signed a worldwide exclusive license agreement to commercialize a proprietary folate receptor alpha vaccine technology for all cancer indications. This technology, developed in the laboratory of Keith Knutson, Ph.D., at Mayo, has successfully completed Phase I clinical trials in ovarian and triple-negative breast cancer.
TapImmune recently announced positive Phase 1 clinical data from the Folate Receptor Alpha trial in triple negative breast and ovarian cancer. The trial demonstrated the experimental therapy was safe, well-tolerated, provided a robust immune response, therefore, TapImmune plans to initiate a Phase II clinical trial in triple negative breast cancer during the second half of 2015. Under the license agreement the IND covering the clinical trial will be transferred to TapImmune.
Dr. Glynn Wilson TapImmune's CEO stated "This agreement confirms our intent to further develop and commercialize our novel folate receptor alpha vaccine technology. Folate receptor alpha is an excellent therapeutic target in ovarian, triple negative breast and non-small cell lung cancer. Our immediate plans are to conduct Phase II studies in triple negative breast and ovarian cancer. We are excited by the recent Phase I data and our future clinical programs will be aimed at developing this leading vaccine candidate as a stand-alone therapy or in combination with other immunotherapies."
Mayo Clinic has a financial interest in the technology described in this press release. Revenue Mayo receives is used to support its not-for-profit mission in patient care, education and research.
About TapImmune Inc.
TapImmune Inc. is an immunotherapy company specializing in the development of innovative technologies for the treatment of cancer, including metastasis, and infectious disease. The Company's peptide or nucleic acid-based immunotherapeutics, comprise one or multiple naturally processed epitopes (NPEs) designed to comprehensively stimulate a patients' killer T-cells, helper T-cells and to restore or further augment antigen presentation by using proprietary nucleic acid-based expression systems. The Company's technologies may be used as stand-alone medications or in combination with current treatment modalities. Please visit the Company's website at www.tapimmune.com for details.
Forward-Looking Statement Disclaimer
This release contains forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995. Statements in this news release concerning the Company's expectations, plans, business outlook or future performance, and any other statements concerning assumptions made or expectations as to any future events, conditions, performance or other matters, are "forward-looking statements". Forward-looking statements are by their nature subject to risks, uncertainties and other factors which could cause actual results to differ materially from those stored in such statements. Such risks, uncertainties and factors include, but are not limited to the risks set forth in the Company's most recent Form 10-K, 10-Q and other SEC filings which are available through EDGAR at www.sec.gov. The Company assumes no obligation to update the forward-looking statements.
Glynn Wilson, Ph.D.
Chairman & CEO
Kirin M. Smith
Chief Operating Officer
Chief Communications Officer
J. Streicher Capital, LLC
SOURCE TapImmune, Inc.