BALTIMORE, Feb. 24, 2015 /PRNewswire/ -- Vaccinogen (OTC.QB: VGEN), a leading cancer immunotherapy company, announced that it has relocated its corporate headquarters from Frederick, MD to a 10,000 square-foot facility at 949 Fell Street in Baltimore, MD. The relocation was completed on February 22.
"We are pleased to announce our relocation to Baltimore with its proximity to leading research universities, biotechnology companies, and Baltimore/Washington International Airport," said Andrew L. Tussing, Vaccinogen's President and Chief Executive Officer. "This places us in an ideal location to attract additional top scientific talent and business leaders to the company as we move forward with our phase III clinical trial of OncoVAX®, a patient-specific immunotherapy for stage II colon cancer. This move signifies another important milestone for the company as we continue our mission to build a solid business that aims to help reduce the recurrence of cancer with personalized vaccines."
The move is the latest in a number of corporate milestones for Vaccinogen in 2015. At the end of January, the company closed the second $10 million tranche of the $80 million financing announced last August. This installment brought the total amount closed to $20 million of the original agreement at $5.50 per unit.
In February, the company also elected Ronald Kaiser and Hakan Edstrom to its Board of Directors. Mr. Kaiser is an entrepreneur and executive leader with more than 35 years of financial and accounting experience. Mr. Edstrom, along with a lengthy career in biotech development, is the current Chief Executive Officer of Mannkind Corp. Peter Morsing, Ph.D., a 20-year pharmaceutical industry veteran, also joined the company as Global Head of Business Development and Strategy. Dr. Morsing is leading the efforts to build a comprehensive strategy for developing near-term revenues as well as identifying potential strategic acquisition opportunities.
About Vaccinogen, Inc.
Vaccinogen, Inc. is a cancer vaccine company that is clinically testing OncoVAX®, a treatment designed to prevent the recurrence of colon cancer and potentially other solid tumors. It is a patented process that leverages a patient's own live tumor cells to launch a broad immune response against minimal residual disease. The Company believes that OncoVAX®, at an optimal dose and regimen, is the first colon cancer vaccine to demonstrate effectiveness in preventing cancer recurrence after surgical resection by addressing the diversity of cancer cells inherent to each patient's tumor. Five clinical studies of OncoVAX®, including a phase III trial with the optimum dose and regimen, have been completed to date. The Company expects to begin enrolling patients in a pivotal phase IIIb trial under an FDA Special Protocol Assessment (SPA) with the U.S. Food and Drug Administration (FDA) within sixty (60) days of obtaining adequate funding. More information is available at www.vaccinogeninc.com.
Forward Looking Statement
Some of the statements contained in this press release may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as "anticipates", "believe", "plan", "intend", "expect", "likely", "may", "should", "will", and similar references to future periods. Vaccinogen has based these forward-looking statements largely on its expectations and projections about future events and financial trends affecting the financial condition and/or operating results of our business. Forward-looking statements involve risks and uncertainties; particularly those risks and uncertainties inherent in the process of discovering, developing and commercializing drugs that are safe and effective for use as human therapeutics. In addition, these forward-looking statements involve risks and uncertainties outlined in our most recent periodic reports filed with the Securities and Exchange Commission. There are important factors that could cause actual results to be substantially different from the results expressed or implied by these forward-looking statements. Therefore, you should not rely on these forward-looking statements. Vaccinogen does not undertake any obligation to update this forward-looking information.
SOURCE Vaccinogen, Inc.