OncoSec Medical Receives Phase I SBIR Funding for Development of Novel Electroporation Technologies
SAN DIEGO-- OncoSec Medical Inc. (OTCQB: ONCS), a company developing DNA-based intratumoral cancer immunotherapies, received a Phase I Small Business Innovation Research (SBIR) grant from the National Institute of Health (NIH). The grant will fund collaborative research between OncoSec and Old Dominion University (ODU) to evaluate and develop novel electroporation technologies.
Robert H. Pierce, Chief Scientific Officer, said, "We are very pleased to announce our award of this SBIR grant. It represents one aspect of our continuing efforts to explore novel ways to improve the efficiency and tolerability of electroporation-mediated gene expression technologies."
Funding is provided by the National Cancer Institute (NCI) of the NIH in the amount of $163,000 to establish the feasibility of a novel electroporation technology that will utilize wave interference phenomena to produce an electroporation waveform that could be used to increase the efficiency of DNA transfection into a cell. Additional Phase II funding of up to $1.0 Million through the SBIR program funding may be available to commercialize the technology depending on the outcome of the Phase I studies.
About OncoSec Medical Inc.
OncoSec Medical Inc. is a biopharmaceutical company developing its ImmunoPulse 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 ImmunoPulse 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 without the systemic toxicities associated with other treatments. OncoSec's lead program evaluating ImmunoPulse for the treatment of metastatic melanoma is currently in Phase 2 development, and is being conducted in collaboration with several prominent academic medical centers. As the company continues to evaluate ImmunoPulse 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.
Source: OncoSec Medical Inc.
Released October 27, 2014