On November 23, 2021 Immunomic Therapeutics, Inc., ("ITI") a privately held clinical-stage biotechnology company focused on advancing its proprietary nucleic acid immunotherapy platform, reported an exclusive option to license or acquire a series of innovative technologies in the immuno-oncology space from iOncologi, Inc., ("iOi") (Press release, Immunomic Therapeutics, NOV 23, 2021, View Source [SID1234595977]).
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Preclinical studies led by iOi Co-Founders, Drs. Duane Mitchell and Catherine Flores, have demonstrated that resistance to immune checkpoint inhibitors (ICIs) can be overcome by iOi’s novel, intravenously delivered stem cell-based therapeutic. Rapid translation of this possible breakthrough discovery into first-in-human clinical trials is underway. ITI’s option offers potential opportunities for both companies to further facilitate clinical and commercial development in the field of cell therapy and for collaboration in the development of nucleic acid vaccines that complements ITI’s own UNITE technology. The option agreement contemplates additional investment by ITI dependent upon iOi achieving certain clinical trial milestones.
"We are pleased to expand our collaboration with Dr. Duane Mitchell, both in his role as Founder & President of iOncologi, and as a leading academic researcher in the immuno-oncology field. Dr. Mitchell has been instrumental in the development and leadership of our ATTAC-II clinical trial for patients with Glioblastoma," said Dr. William Hearl, CEO of Immunomic Therapeutics. "His determination to bring innovative treatments to patients is what compounds the complementary technologies in both companies."
"We are very excited to have iOncologi and Immunomic Therapeutics bring together complementary expertise in the advancement of new treatments for patients with refractory cancers," said Dr. Mitchell. "This agreement expands upon a longstanding and very fruitful collaboration with Dr. Hearl and the team at ITI in bringing forward novel immunotherapy treatments for patients with Glioblastoma. I look forward to the advances that will come from this agreement between the two companies."