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Anixa Bioscience's Deal With Cleveland Clinic Sends Shares Higher

Tanzeel Akhtar

Anixa Biosciences Inc (NASDAQ: ANIX) shares were trading higher Wednesday after the company announced a licensing agreement with the Cleveland Clinic for breast cancer vaccine technology.

Cleveland Clinic researcher Dr. Vincent Tuohy said in a statement that he has identified a specific protein that is "retired" from service after a woman has given birth, but reappears in many forms of breast cancer, especially TNBC.

His studies have shown that vaccinating against this protein completely prevents breast cancer in mice, according to a Wednesday press release. 

Tuohy and Cleveland Clinic were awarded a $6.2-million grant from the Department of Defense in November 2017 to provide funding for the completion of pre-clinical studies as well as the completion of two Phase 1 clinical studies to test the vaccine in patients.

Anixa Biosciences said it will work with Tuohy and a team at Cleveland Clinic to advance the vaccine to clinical trials in humans to verify the animal studies that demonstrated prevention of breast cancer.

Anixa Biosciences shares were trading up 18.64% at $4.90 at the time of publication Wednesday. 

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Photo by Cleveland Clinic via Wikimedia

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