Lion Biotechnologies Announces Exclusive License Agreement With Moffitt Cancer Center
25 July 2014 - 1:00PM
Lion Biotechnologies, Inc. (OTCQB:LBIO), a biotechnology company
that is developing novel cancer immunotherapies based on tumor
infiltrating lymphocytes (TILs), today announced that it has
entered into an exclusive, worldwide license agreement with Moffitt
Cancer Center.
Under the terms of the agreement, Lion has licensed from Moffitt
the rights to develop and commercialize new technologies to enhance
TIL production from melanoma, which may be applicable to other
tumor types that historically have not produced therapeutic TILs.
The license is based on two provisional patent applications, filed
under "Compositions and Methods for Improving Tumor-Infiltrating
Lymphocytes for Adoptive Cell Therapy."
"TIL transfer can clearly confer a survival benefit to patients
with melanoma, but it has been difficult to harvest TILs from other
solid tumor types for therapeutic use," said Laszlo Radvanyi, PhD,
Lion's chief scientific officer. "This licensing agreement with
Moffitt gives us access to technologies that may allow us to
enhance TIL production from these tumors, thereby unlocking the
potential of TILs to treat, and possibly cure, certain cancers
beyond melanoma."
Manish Singh, chairman and chief executive officer of Lion,
added, "This license agreement represents an expansion of our
intellectual property and technology portfolios that we are
confident will ultimately lead to a broadening of our pipeline.
Most importantly, the use of these technologies may lead to an
extension of the benefits of TIL therapy to address several cancers
that have significant unmet medical need. As we continue advancing
our clinical programs in melanoma, we look forward to working with
our long-time collaborators at Moffitt to develop and commercialize
these new technologies in multiple tumor indications."
Jarett Rieger, director of Moffitt's office of technology
management and commercialization, commented, "Moffitt Cancer Center
is excited to forge a collaboration in the immunotherapy area with
Lion Biotechnologies, a highly respected and highly talented
organization. Our institution's intellectual capital and experience
in TIL therapy are very synergistic with Lion Biotechnologies'
strengths in commercializing new technologies."
About Lion Biotechnologies
Lion Biotechnologies, Inc. is engaged in the development of
T-cells and engineered T-cells for the treatment of various
cancers. The company's lead product candidate is a ready-to-infuse
autologous T-cell therapy utilizing tumor-infiltrating lymphocytes
(TILs) for the treatment of patients with Stage 4 metastatic
melanoma, and is based on a clinical CRADA with the National Cancer
Institute. TIL therapy is also being evaluated in
physician-sponsored clinical trials at MD Anderson Cancer Center
and the H. Lee Moffitt Cancer Center & Research Institute. For
more information, please visit http://www.lionbio.com.
About Moffitt Cancer Center
Located in Tampa, Florida, Moffitt is one of only 41 National
Cancer Institute-designated Comprehensive Cancer Centers, a
distinction that recognizes Moffitt's excellence in research, its
contributions to clinical trials, prevention and cancer control.
Moffitt is the No. 1 cancer hospital in Florida and has been listed
in U.S. News & World Report as one of "America's Best
Hospitals" for cancer since 1999. With more than 4,200 employees,
Moffitt has an economic impact on the state of nearly $2 billion.
For more information, please visit www.moffitt.org.
Forward-Looking Statements
This press release contains certain forward-looking statements
that are subject to a number of risks and uncertainties, including
the risk that the licensed technology may not perform as expected;
the risk that the provisional patent applications covering the
patent pending technology licensed by Lion Biotechnologies will not
be granted or will not provide meaningful commercial protection;
the risk that the licensed technology may infringe the proprietary
rights of third parties; the need for substantial additional
capital to fund development of the licensed technologies through to
commercialization; the need to satisfy performance milestones to
maintain the technology licenses with the H. Lee Moffitt Cancer
Center; and the risk of obtaining any patents will provide
commercially significant protection for the potential product
candidate. Additional risks and uncertainties are described in Lion
Biotechnologies' most recently filed SEC documents, such as its
most recent annual report on Form 10-K, all quarterly reports on
Form 10-Q and any current reports on Form 8-K. Lion Biotechnologies
undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
CONTACT: Investor Relations
The Trout Group
Gitanjali Jain Ogawa
646-378-2949
gogawa@troutgroup.com