OncoSec Medical Issues Annual Letter To Shareholders
SAN DIEGO, June 17, 2015 /PRNewswire/ -- OncoSec Medical Inc. ("OncoSec") (NASDAQ: ONCS), a company developing DNA-based intratumoral cancer immunotherapies, today issued the following letter from Punit Dhillon, President and CEO of OncoSec, to the company's shareholders. The letter and supplemental proxy information are available by clicking here.
Dear Valued Shareholder,
Over the past two years, OncoSec has experienced unparalleled growth and expansion of our team, research pipeline, and clinical development activities. Thanks to the ambition and creativity of approximately 50 OncoSec colleagues, we continue to champion our company's purpose: to deliver new cancer treatments through innovative science. As a result, OncoSec is now established as one of the lead intratumoral immunotherapy companies. As we celebrate our four-year anniversary, we reflect on our accomplishments to date: an industry-leading intratumoral immunotherapy pipeline, a state-of-the-art technology platform, key industry and academic collaborations, a diverse range of research programs, and an employee culture aligned with our values and purpose. I would like to expand upon these recent achievements and our vision as we begin the next chapter at OncoSec.
We have focused our efforts and aligned our clinical pipeline to address one of the greatest challenges in oncology today: the conversion of T-cell poor tumors into T-cell rich tumors. There is increasing data that response to anti-PD-1/PD-L1 therapies depends upon the presence of certain immune cells (CD8+ tumor-infiltrating lymphocytes) in the patient's tumor. Interleukin-12 (IL-12) can increase the number of these critical cells within tumors. At OncoSec, we believe that our core technology, ImmunoPulse™ IL-12, will drive a CD8-specific immune response both locally and systemically, increasing the proportion of patients who will respond to anti-PD-1 and other checkpoint therapies. Our Phase II trial results in metastatic melanoma has led to an exciting new collaboration with the University of California, San Francisco, who will now be testing the hypothesis that ImmunoPulse™ IL-12 can enhance response to Merck's anti-PD-1 treatment, KEYTRUDA® (pembrolizumab).
While we work to advance our clinical studies, we are also continuing to explore the broader applications of our ImmunoPulse™ technology. While our engineers work to develop advanced devices capable of accessing difficult-to-reach tumors, the Discovery Research team is investigating new DNA constructs and targets focused on defeating cancer's ability to evade the immune system, allowing the patient's immune system to recognize and attack the tumor(s). To this end, our team is exploring different preclinical combination approaches as well as screening new therapeutic candidate molecules. From an operational perspective, we continue to expand OncoSec's team and internal capabilities to reach the next inflection point. We aim to strengthen and streamline the R&D process as our colleagues unite in a single purpose-built facility this year.
As a public company, we understand the need to create and increase value for our shareholders. We believe the data generated from our studies as well as the expansion of our versatile platform will lead to increased partnership opportunities. By continuing to validate our technology both clinically and preclinically, we expect to be in a better position to attract a strategic partner to aid in the continued development of our programs and create this value. This year also marked the execution of a key corporate development goal: uplisting to the NASDAQ Capital Market. As a NASDAQ-listed company, we are now able to broaden our shareholder base, raise the visibility of OncoSec's capabilities, and generate even more value for our shareholders.
As we build on our success and advance our pipeline for the benefit of patients everywhere, I want to express my sincere appreciation to all our shareholders. We are making clear progress towards accomplishing our mission to deliver a new standard of cancer care through innovative science. As we continue on our journey we are thankful for your ongoing confidence and support.
CEO and President
June 17, 2015
About OncoSec Medical Inc.
OncoSec Medical Inc. is a biopharmaceutical company developing its investigational ImmunoPulseTM intratumoral cancer immunotherapy. OncoSec Medical's core technology is designed to enhance the local delivery and uptake of DNA IL-12 and other DNA-based immune-targeting agents. Clinical studies of ImmunoPulseTM have demonstrated an acceptable safety profile and preliminary evidence of anti-tumor activity in the treatment of various skin cancers, as well as the potential to initiate a systemic immune response limiting the systemic toxicities associated with other treatments. OncoSec's lead program evaluating ImmunoPulseTM for the treatment of metastatic melanoma is currently in Phase II development, and is being conducted in collaboration with several prominent academic medical centers. As the company continues to evaluate ImmunoPulseTM in its current indications, it is also focused on identifying and developing new immune-targeting agents, investigating additional tumor indications, and evaluating combination-based immunotherapy approaches. For more information, please visit www.oncosec.com.
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this release that are not historical facts may be considered such "forward-looking statements." Forward-looking statements are based on management's current preliminary expectations and are subject to risks and uncertainties, which may cause our results to differ materially and adversely from the statements contained herein. Some of the potential risks and uncertainties that could cause actual results to differ from those predicted include our ability to raise additional funding, our ability to acquire, develop or commercialize new products, uncertainties inherent in pre-clinical studies and clinical trials, unexpected new data, safety and technical issues, competition, and market conditions. These and additional risks and uncertainties are more fully described in OncoSec Medical's filings with the Securities and Exchange Commission. Undue reliance should not be placed on forward-looking statements, which speak only as of the date they are made. OncoSec Medical disclaims any obligation to update any forward-looking statements to reflect new information, events or circumstances after the date they are made, or to reflect the occurrence of unanticipated events.
OncoSec Medical Inc.
OncoSec Medical Inc.
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SOURCE OncoSec Medical Inc.