In The News

Cancer vaccine set for clinical trials, being pitched to investors

Feb 05, 2010

By BILL POWER Business Reporter
Fri. Feb 5 - 7:43 AM

With human clinical trials beginning soon, Immunovaccine Inc. officials in Halifax are about to pitch their therapeutic cancer vaccine before some of the world’s most in­fluential investors. “It is a major transition to go from doing the research to actually going into clinical trials," Randal Chase, the president and chief executive officer, said Thursday in an interview.

Company representatives will also be talking to potential backers about their De­poVax vaccine-delivery platform when they take in the 2010 BIO CEO & Investor Conference, beginning in New York City on Monday.

“We’re a company that’s reached a new plateau in our development," Dr. Chase said.

He said preparations are underway to begin clinical trials in a couple of months of the company’s DPX-0907 therapeutic cancer vaccine that will treat patients who have breast, ovarian or prostate cancers.

Clearance to begin the clinical trials was obtained from the U.S. Food and Drug Ad­ministration in December.

Immunovaccine was invited to make a presentation to potential investors and partner companies at the start of the con­ference. Dr. Chase said about two full days of talks are also scheduled for the Nova Sco­tia delegation.

During the fourth quarter, which ended Dec. 31, the company said it raised about $1 million in licence fees from new animal health agreements.

Pfizer Animal Health , a division of phar­maceutical giant Pfizer Inc. , is using Immu­novaccine’s vaccine-delivery technology.

The cash will be used to cover costs asso­ciated with upcoming clinical trials, said Dr. Chase.

The company has not yet officially re­leased it fourth-quarter 2009 results but in­dicated in a news release it will soon report cash on hand and equivalents of about $7.7 million.

Immunovaccine said in a statement last week it was bringing in SectorSpeak Inc. to assist with investor relations, road shows and introductions to institutional inves­tors and analysts.

SectorSpeak is receiving $5,000 per month and stock options in exchange for its services.

(bpower@herald.ca)
 

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Copyright © The Chronicle Herald, February 5, 2010


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