On August 11, 2016 Vedanta Biosciences, pioneering the development of a novel class of therapies designed to modulate pathways of interaction between the human microbiome and the host immune system reported that it has entered into a translational collaboration with the NYU Langone Medical Center focused on developing novel microbiome-derived immunotherapies for cancer patients being treated with checkpoint inhibitors (Press release, Vedanta Biosciences, AUG 11, 2016, View Source [SID:SID1234515735]).

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Under the terms of the agreement, Vedanta will collaborate with a group of oncologists led by Jeffrey S. Weber, M.D., Ph.D., deputy director of the Laura and Isaac Perlmutter Cancer Center at NYU Langone and a renowned melanoma and immunotherapy expert, on clinical studies to support the identification of new microbiome immunotherapies for cancer. The studies will also explore mechanisms by which the gut microbiome influences the efficacy of checkpoint inhibitors in cancer patients. Recent research published in Cell by Vedanta co-founder Dr. Kenya Honda at Keio University, has suggested that human-dwelling bacterial strains can activate immune cells in the gut that could be harnessed for immunotherapies. Vedanta has a worldwide, exclusive license to IP covering Dr. Honda’s discovery. Other findings in the field indicate that gut bacteria can potentially modulate the therapeutic responses to checkpoint blockades, as well as other classes of cancer therapeutics.

"Dr. Weber is a pioneer in translational research, particularly in immunotherapy and the development of checkpoint inhibitors," said Dr. Bruce Roberts, Chief Scientific Officer of Vedanta. "We look forward to working with Dr. Weber to expand Vedanta’s portfolio of immune activating microbial cocktails for use in standalone immunotherapy and in combination with checkpoint inhibitors."

"Checkpoint inhibitors are a major advance in cancer therapy, but many patients do not respond to therapy, and some patients who respond will eventually relapse," said Dr. Weber. "Recent data suggest an important role for the microbiome in the anti-tumor activity of immunotherapy, and our other studies of the microbiome will offer interesting new clinical insights into how and why these treatments work. Further understanding of the role of the microbiome in immunotherapeutic responses against cancer may also lead to new and improved therapies."

On August 11, 2016 RXi Pharmaceuticals Corporation (NASDAQ: RXII), a clinical-stage RNAi company developing innovative therapeutics that address significant unmet medical needs, reported its financial results for the second quarter ended June 30, 2016, and provided a business update (Press release, RXi Pharmaceuticals, AUG 11, 2016, View Source [SID:1234514527]).

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"First of all, I am proud to report that careful execution of RXi’s clinical programs by our team has resulted in the complete enrollment of our Phase 2 study RXI-109-1402 for hypertrophic scars, and has exceeded our expected enrollment target for the full year in our Phase1/2 study, RXI-109-1501 in retinal scarring, allowing us to adhere to our originally projected readout timelines. I am also pleased to say that we have been able to do that while maintaining our quarterly burn rate at about $2 million," said Dr. Geert Cauwenbergh, President and CEO of RXi Pharmaceuticals. He further added, "We also continue to aggressively pursue strategic transactions that will enhance RXi’s pipeline for long-term success and increase shareholder value. We are satisfied with the traction we have experienced thus far in that process."

The Company will host a conference call today at 4:30 p.m. EDT to discuss financial results and provide an update on the Company. The webcast link will be available under the "Investors – Event Calendar" section of the Company’s website, www.rxipharma.com. The event may also be accessed by dialing toll-free in the United States and Canada: +1 888-669-0684.

International participants may access the event by dialing: +1 862-225-5361. An archive of the webcast will be available on the Company’s website approximately two hours after the presentation.
Select Second Quarter 2016 Financial Highlights
Cash Position
At June 30, 2016, the Company had cash, cash equivalents and short-term investments of approximately $5.8 million, compared with $10.6 million at December 31, 2015.
Per the terms of the Company’s public offering in June 2015, the Company could not sell shares of the Company’s common stock under the purchase agreement with Lincoln Park Capital Fund,
LLC ("LPC") until the expiration of the 13-month overallotment purchase rights ("Purchase Rights"). On July 2, 2016, with the expiration of the Purchase Rights, the Company’s restriction on selling common stock under the purchase agreement was lifted. Under the purchase agreement, the Company has the right to sell LPC up to $10.8 million shares of the Company’s common stock. To date, the Company has sold a total of 40,000 shares of common stock to LPC for net proceeds of $146,000.
Net Revenue
Net revenue for the quarter ended June 30, 2016 was $9,000 as compared with no revenues for the quarter ended June 30, 2015. Net revenue during the second quarter of 2016 was due to the value of the common stock and warrants issued by Thera Neuropharma, Inc. to the Company per the terms of the exclusive licensing agreement for RXi’s proprietary sd-rxRNA platform to develop therapeutics for neurodegenerative diseases.
Research and Development Expenses
Research and development expenses for the quarter ended June 30, 2016 was $1.3 million, compared with $1.4 million for the quarter ended June 30, 2015. Research and development expenses decreased from the prior quarter primarily related to a decrease in stock-based compensation expense due to the full vesting of stock options granted in 2012 offset by increases in research and development expenses due to manufacturing costs for Samcyprone and clinical trial expenses for Study 1502, the Company’s common warts trial, which commenced in December 2015.
General and Administrative Expenses
General and administrative expenses for the quarter ended June 30, 2016 was $0.9 million as compared with $0.8 million for the quarter ended June 30, 2015. The increase in general and administrative expenses was primarily due to an increase in legal and proxy-related fees for the Company’s special meeting and reverse stock split in April 2016 and the use of professional service providers due to the Company’s focus on business development activities in line with its key corporate initiatives offset by a decrease in stock-based compensation expense due to the full vesting of stock options granted in 2012.
Net Loss
Net loss for the quarter ended June 30, 2016 was $2.2 million, compared with $2.2 million for the quarter ended June 30, 2015. Net loss was consistent quarter over quarter with fluctuations in operating expenses discussed above.
NASDAQ Compliance
On April 18, 2016, the Company effected a one-for-ten reverse stock split of the Company’s common stock, resulting in total common shares issued and outstanding of 6.5 million. All share
and per share amounts in the financial statements have been retroactively adjusted for all periods presented to give effect to the reverse stock split. On May 2, 2016, the Company received written notice from the Nasdaq Stock Market, LLC notifying the Company that it had regained compliance with the minimum bid price requirement for continued listing on The NASDAQ Capital Market.

Select Business and Corporate Highlights
Since inception in 2012, RXi has achieved each one of its projected corporate goals on time and within budget. In January of this year, the Company outlined its 2016 corporate goals at the Biotech Showcase conference. We have made significant progress towards successfully completing these goals and remain on track to fully execute against each goal before the end of 2016.

Business Development
The Company has been actively pursuing multiple business development opportunities to drive growth, innovation and shareholder value. As shown with the completed licensing deals with both MirImmune, Inc. and Thera Neuropharma, Inc., RXi’s robust pipeline and extensive patent portfolio provides for a broad spectrum of possibilities including technology and research collaborations, strategic partnerships and out-licensing opportunities.

Recently, the Company announced that it is in the process of exploring strategic options including a range of potential M&A and business development opportunities that are complementary with current RXi activities and may significantly advance our clinical pipeline. These efforts are actively progressing and the Company remains committed to enhancing its growth through this type of transaction.

Therapeutic Development
The Company’s ongoing Phase 2 clinical trial, RXI-109-1402, is evaluating its first clinical candidate RXI-109, an sd-rxRNA compound targeting connective tissue growth factor (CTGF) to reduce scar formation of in the skin following scar revision surgery. Results from a blinded panel and an Investigator review, released in October 2015, showed that incision sites treated with RXI-109 after scar revision surgery achieved better scores as compared to control incision sites in the same subjects, three months post scar revision surgery. The adaptive protocol in place has allowed the Company to apply early learnings from all trials to date, to optimize the best treatment regimen necessary to advance into the next phase of development. As such, the Company has already identified the best time to start treatment as well as the optimal dose level, and is now evaluating the best treatment length (Cohorts 3 and 4). This study is now fully enrolled and the Company anticipates it will provide preliminary data in the second half of 2016 with a full interim analysis, for Cohorts 3 and 4, mid-2017.

As in dermal scarring, CTGF is known to play a role in retinal scarring. Reduction of CTGF in the eye by RXI-109 treatment may reduce the formation of retinal fibrosis that often accompanies
late stage AMD and contributes to vision loss. Enrollment in the first of three cohorts in the Company’s Phase 1/2 trial, RXI-109-1501, is complete. As there were no safety issues in the first cohort, enrollment into the second cohort at the next higher dose lever is ongoing.

Samcyprone, the Company’s second clinical candidate, is a topical immunotherapy currently being evaluated in a Phase 2a clinical trial. RXI-SCP-1502 is a multi-center, multi-dose trial conducted in subjects with at least one cutaneous, plantar or periungual wart present for at least four weeks. The Company recently presented data, from a pilot study conducted by Hapten Pharmaceuticals, which led to the acquisition of Samcyprone, a proprietary formulation of Diphenylcyclopropenone (DPCP), and the initiation of its ongoing Phase 2 clinical trial. This trial is expected to be fully enrolled by the end of 2016 and the Company expects to share early read-outs H2 2016.

Consumer Health Program
RXi’s consumer health compounds, RXI-231 and RXI-185, are in development and are intended to affect the appearance of the skin. Both of these sd-rxRNA compounds are part of RXi’s partnering and business growth initiatives providing multiple development opportunities for non-therapeutic skin health. Evaluation of topical delivery options for these compounds is underway and the Company expects to explore one of these candidates in consumer testing by the end of 2016.

Intellectual Property Estate
The Company actively broadens and protects its valuable intellectual property estate. Several new patent applications have been filed to protect our current pipeline and future developments providing a competitive advantage to the Company for numerous strategic partnering opportunities.

On August 11, 2016 Soligenix, Inc. (OTCQB: SNGX) (Soligenix or the Company), a late-stage biopharmaceutical company focused on developing and commercializing products to treat rare diseases where there is an unmet medical need, reported its recent accomplishments and financial results for the second quarter ended June 30, 2016 (Filing, Q2, Soligenix, 2016, AUG 11, 2016, View Source [SID:1234514528]).

Christopher J. Schaber, PhD, President and Chief Executive Officer of Soligenix stated, "We continue to be very encouraged with the positive results demonstrated in our Phase 2 oral mucositis trial with SGX942 (dusquetide) and expect to report long-term safety data during the fourth quarter of this year. We have engaged the regulatory authorities in both the US and Europe, and anticipate having a pivotal Phase 2b/3 study design of SGX942 during the first half of next year. We also continue to actively enroll patients in our pivotal Phase 3 study in cutaneous T-cell lymphoma with SGX301 (synthetic hypericin)."

Schaber continued, "We continue to advance the development of RiVax and OrbeShield in our biodefense business segment, and are pleased with the government agencies additional non-dilutive funding of over $8 million through newly awarded funding and the exercise of options in support of these programs. The continued support of these programs demonstrates the productive collaboration between the Company and the government agencies."

Soligenix Recent Accomplishments:

· On July 25, 2016, the Company announced that the Biomedical Advanced Research and Development Authority (BARDA) and the National Institute of Allergy and Infectious Diseases (NIAID) have each provided additional funding to advance preclinical development of OrbeShield (oral beclomethasone 17,21-dipropionate or oral BDP) as a medical countermeasure for civilian and military use in the treatment of gastrointestinal acute radiation syndrome (GI ARS). The additional funding totaled $634,000.

· On July 18, 2016, the Company announced positive preliminary proof-of-concept results from its collaboration with Axel Lehrer, PhD of the Department of Tropical Medicine, John A. Burns School of Medicine, University of Hawaiʻi and Hawaii Biotech, Inc. to develop a heat stable subunit Ebola vaccine. The Company evaluated its proprietary vaccine thermostabilization technology, ThermoVax, licensed from the University of Colorado, to stabilize components of the vaccine.

· On June 25, 2016, the Company presented preliminary results from its SGX942 Phase 2 clinical trial in oral mucositis at the Multinational Association for Supportive Care in Cancer (MASCC) conference in Adelaide, Australia. The reduction in duration of severe oral mucositis ranged from 50% in the overall population to 67% in the population with the most severe disease.

· On May 25, 2016, the Company announced that NIAID exercised an option for the evaluation of RiVax to fund animal efficacy and toxicology studies. The exercised option will provide an additional $3.2M in funding.

· On May 5, 2016, the Company announced that NIAID exercised an option for RiVax bulk drug substance and finished drug product process scale-up and technology transfer that will support preclinical studies and manufacturing in accordance with current good manufacturing practices. The exercised option will provide an additional $4.3M in funding.

Financial Results – Second Quarter Ended June 30, 2016

Soligenix’s revenues for the quarter ended June 30, 2016 were $3.2 million as compared to $1.1 million for the same period for the prior year. Revenues included contracts with BARDA and NIAID in support of OrbeShield development in the treatment of GI ARS and advanced development of the Company’s thermostabilization technology, ThermoVax, combined with its ricin toxin vaccine RiVax, as a medical countermeasure to prevent the effects of ricin exposure.

Soligenix’s basic net loss was $0.1 million, or $0.00 per share, as compared to $4.0 million, or $0.15 per share, for the quarters ended June 30, 2016 and 2015, respectively. Included in the net loss for quarters ended June 30, 2016 and 2015 is non-cash income of $0.9 million and a non-cash expense of $1.9 million, respectively. This non-cash item reflects the change in fair value of the liability related to warrants issued in the Company’s June 2013 registered public offering and is included in other income/(expense).

Research and development expenses, were $0.8 million as compared to $1.4 million for the quarters ended June 30, 2016 and 2015, respectively. The decrease was related to completion of patient enrollment and treatment in the Phase 2 trial of SGX942 for the treatment of oral mucositis in head and neck cancer. The long-term follow-up safety data from this trial continues to be collected, with completion expected during the second half of 2016.

General and administrative expenses were $1.0 million as compared to $0.9 million for the quarters ended June 30, 2016 and 2015, respectively.
As of June 30, 2016, the Company’s cash position was $3.2 million.

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On August 11, 2016 BioLineRx Ltd. (NASDAQ/TASE: BLRX), a clinical-stage biopharmaceutical company dedicated to identifying, in-licensing and developing promising therapeutic candidates, reported its financial results for the second quarter ended June 30, 2016 (Filing, Q2, BioLineRx, 2016, AUG 11, 2016, View Source [SID:1234514504]).

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Highlights and achievements during second quarter of 2016 and to date:

· Submission of regulatory filings to initiate Phase 2a study in pancreatic cancer for BL-8040 in combination with Merck’s KEYTRUDA, under immuno-oncology collaboration with Merck announced earlier this year

· Signing of additional immuno-oncology collaboration, this time with MD Anderson Cancer Center, for second Phase 2a study in pancreatic cancer for BL-8040 in combination with Merck’s KEYTRUDA

· Continued enrollment in large (n=194), randomized Phase 2b study for BL-8040 as consolidation treatment for AML patients following standard induction treatment

· Commercial launch of BL-5010 as OTC treatment for non-surgical removal of skin lesions by Omega Pharma (a division of Perrigo), following CE Mark approval in March

· In-licensing of liver fibrosis project under Novartis collaboration

· Philip A. Serlin appointed Chief Executive Officer, effective October 2016

Expected upcoming significant milestones for remainder of 2016:

· Initiation of Phase 2a study in pancreatic cancer, under immuno-oncology collaboration with Merck, following expected regulatory approval in Q3 2016

· Second Phase 2a immuno-oncology study in pancreatic cancer, under collaboration with MD Anderson Cancer Center, expected to commence by end of 2016

· Full set of data from Phase 2a study for BL-8040 in r/r AML to be presented at the Society of Hematologic Oncology (SOHO) annual meeting, September 7-10, 2016, in Houston, Texas

· Partial results from Phase 2 study for BL-8040 in stem-cell mobilization for allogeneic transplantation expected by end of 2016

· Regulatory submission for BL-7010 clinical efficacy study, for marketing purposes as food supplement

· Expansion of commercial rollout of BL-5010 by Omega to additional countries and development of 2nd OTC indication for the product

Philip A. Serlin, Chief Financial and Operating Officer of BioLineRx, remarked, "The second quarter of 2016 highlighted the continued execution of our plans as we advance and expand our lead oncology platform, BL-8040; see the initial market penetration of BL-5010; continue the development of BL-7010 as a food supplement; and maintain active asset screening and in-licensing activities with Novartis."

"We are pleased to have entered into an immuno-oncology collaboration with MD Anderson for a second Phase 2a study of BL-8040 with Merck’s KEYTRUDA in pancreatic cancer, which provides additional validation of the potential of our lead oncology drug platform in the cancer immunotherapy space. We continue to examine other potential collaborations in this space. In addition, we are looking forward to announcing full results from our successful Phase 2a study for relapsed and refractory AML at the upcoming Society of Hematology Oncology Meeting in September and we continue to push forward in our Phase 2b trial in an earlier treatment line for AML as a consolidation treatment following standard induction treatment. We also look forward to initiating our Phase 2a study in pancreatic cancer under our collaboration with Merck, expected by the end of this quarter," added Mr. Serlin.

"BL-5010, our first product in the market, is already being sold in a number of countries in Europe. Omega Pharma plans to continue to gradually launch the product in additional European countries over the next 6-9 months, and beyond that time frame, to additional territories. To date, we have not recorded material revenues from this collaboration, but we expect revenues to gradually increase as the first product launch expands and the second product launch commences. In addition, we have in-licensed a drug candidate for the treatment of liver fibrosis, specifically nonalcoholic steatohepatitis (NASH), under our strategic collaboration with Novartis for the co-development of selected Israeli-sourced novel drug candidates, and we expect to in-license additional promising projects to the collaboration in the next few months," continued Mr. Serlin.

"In closing, we ended the second quarter with $41.8 million of cash on our balance sheet. With our focus on achieving our expected milestones, we remain well positioned to carry out our strategic and operational plans," Mr. Serlin concluded.

2

Financial Results for Second Quarter Ended June 30, 2016

Research and development expenses for the three months ended June 30, 2016 were $2.7 million, a decrease of $0.2 million, or 5.2%, compared to $2.9 million for the comparable period in 2015. The small decrease resulted primarily from lower spending on BL-7010 in the 2016 period, partially offset by increased spending related to clinical trial preparations for BL-8040. Research and development expenses for the six months ended June 30, 2016 were $5.3 million, a decrease of $0.8 million, or 13.5%, compared to $6.1 million for the comparable period in 2015. The decrease resulted primarily from lower expenditures for BL-7010 during the 2016 period, as well as the conclusion of one of the clinical trials for BL-8040 in 2015.

Sales and marketing expenses for the three months ended June 30, 2016 were $0.3 million, similar to the comparable period in 2015. Sales and marketing expenses for the six months ended June 30, 2016 were $0.5 million, similar to the comparable period in 2015.

General and administrative expenses for the three months ended June 30, 2016 were $0.9 million, a decrease of $0.1 million, or 12.5%, compared to $1.0 million for the comparable period in 2015. The small decrease resulted primarily from a decrease in salary-related payments and depreciation. General and administrative expenses for the six months ended June 30, 2016 were $1.8 million, similar to the comparable period in 2015.

The Company’s operating loss for the three months ended June 30, 2016 amounted to $3.8 million, compared with an operating loss of $4.2 million for the corresponding 2015 period. The Company’s operating loss for the six months ended June 30, 2016 amounted to $7.6 million, compared with an operating loss of $8.5 million for the corresponding 2015 period.

Non-operating income (expenses) for the three and six months ended June 30, 2016 and 2015 primarily relate to fair-value adjustments of warrant liabilities on the Company’s balance sheet. These fair-value adjustments, which were not material in the 2016 periods, are highly influenced by the Company’s share price at each period end (revaluation date).

Financial income (expenses), net for the three and six months ended June 30, 2016 and 2015 primarily relate to investment income earned on bank deposits, as well as banking fees. The decrease from 2015 to 2016 reflects a lower cash balance and a continued reduction in global investment yields.

The Company’s net loss for the three months ended June 30, 2016 amounted to $3.7 million, compared with a net loss of $4.8 million for the corresponding 2015 period. The Company’s net loss for the six months ended June 30, 2016 amounted to $7.2 million, compared with a net loss of $9.1 million for the corresponding 2015 period.

The Company held $41.8 million in cash, cash equivalents and short-term bank deposits as of June 30, 2016.

3
Net cash used in operating activities was $7.4 million for the six months ended June 30, 2016, compared with net cash used in operating activities of $7.1 million for the comparable period in 2015. The $0.3 million increase in net cash used was primarily the result of a decrease in trade payables and accruals.

Net cash provided by investing activities for the six months ended June 30, 2016 was $4.2 million, compared to net cash used in investing activities of $17.9 million for the comparable period in 2015. The changes in cash flows from investing activities relate primarily to investments in, and maturities of, short-term bank deposits and other investments during the respective periods.

Net cash provided by financing activities for the six months ended June 30, 2016 was $1.5 million, compared to net cash provided by financing activities of $28.6 million for the comparable period in 2015. The decrease in cash flows from financing activities reflects the underwritten public offering which was completed in March 2015.

On August 11, 2016 iCell Gene Therapeutics reported that the US Food and Drug Administration (FDA) has granted Orphan Drug Designation for its chimeric antigen receptor engineered T-cells directed against the target protein CD4 (CD4CAR) for the treatment of peripheral T-cell lymphoma (PTCL) (Press release, iCell Gene Therapeutics, AUG 11, 2016, View Source [SID:1234514558]). The Orphan Drug Designation program provides orphan status, and associated development incentives, to drugs and biologics intended for the safe and effective treatment, diagnosis or prevention of rare diseases or disorders that affect fewer than 200,000 people in the US.

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Yupo Ma, MD, PhD, Professor of Pathology at Stony Brook University & Chairman and Chief Scientific Officer at iCell Gene Therapeutics, said: "CD4CAR could significantly enhance currently available treatment options for these patients. The Orphan Drug Designation is an important achievement as we advance our development plans for this promising treatment in T-cell hematologic cancers."

About CAR T-cell Technology
A "chimeric antigen receptor" (CAR) engineered T-cell is a patient’s T-cell (a component of the immune system) that has been genetically modified to express a protein on its surface with the capability to bind to a target protein on another cell. Upon binding, the CAR protein will send a signal across the cell membrane to the interior of the T-cell to set in motion mechanisms to selectively kill the targeted cell.

About PTCL
Although there are clinical development programs ongoing with CAR T-cells for CD19+ cell hematological malignancies, CD4+ peripheral T-cell lymphomas (PTCLs) have not been targeted by a CAR therapy in a human trial. PTCLs account for 10–15% of all non-Hodgkin’s lymphomas (NHLs) and are more difficult to treat in comparison to B-cell NHLs. Furthermore, and with few exceptions, T-cell NHLs have poorer outcomes, lower response rates, shorter times to progression, and shorter median survival in comparison to B-cell NHLs. As a result, the standard of care for PTCLs is not well-established and the only potential curative regimen is Bone Marrow Transplant (BMT). Not only is BMT poorly-tolerated, but is not an option for a significant subset of patients with resistant disease. This leaves many patients with no curative options.

William Tse, MD, FACP and Chief of the Blood and Marrow Transplantation Division, Department of Medicine at University of Louisville School of Medicine, said "we are very excited to have this opportunity to partner with the iCell Gene Therapeutics and to lead this cutting-edge immunotherapy into first-in-human clinical trial for patients suffering this extremely difficult to treat T cell lymphoma."

About CD4CAR
CD4CAR is in development for CD4+ T-cell malignancies. The novel CD4-specific chimeric antigen receptor engineered T-cells are properly-matched allogeneic human T-cells engineered to express an anti-CD4scFV antibody domain. An initial Phase I clinical study is being planned through collaboration between iCell Gene Therapeutics, the National Institutes of Health, Indiana Clinical and Translational Sciences Institute, Stony Brook Hospital, the Blood and Marrow Transplantation Division and the Clinic Trial Research Unit at James Graham Brown Cancer Center at University of Louisville.