HALIFAX, NOVA SCOTIA--(Marketwired - Dec 16, 2013) - Immunovaccine Inc. ("Immunovaccine" or "IMV" or "the Company") (TSX VENTURE:IMV), a clinical stage vaccine and immunotherapy company, today announced the election of Marc Mansour, Ph.D., the Company's Chief Operating Officer (COO), to its board of directors. Since joining Immunovaccine in 2001, Dr. Mansour has led the development of Immunovaccine's DepoVax™ platform and the Company's lead therapeutic cancer vaccine DPX-Survivac, which is poised for randomized Phase 2 trials in ovarian cancer and glioblastoma. Previously serving as Chief Science Officer, he was appointed the Company's COO in September 2013.
Albert Scardino, Executive Chairman of Immunovaccine, commented,
"Marc is the architect of our cancer immunotherapy program. This year he has increasingly become the face of Immunovaccine to the investment community as he has long been to the scientific community. His interaction with analysts, bankers and investors in North America and Europe has raised the profile of the company in this rapidly developing field of cancer treatment. We're pleased to welcome him to the board."
Immunovaccine expects three trials to be initiated in 2014 with its cancer immunotherapies that use a patented oil-based delivery system. The largest study, a randomized Phase II trial of DPX-Survivac in ovarian cancer, will be sponsored and conducted by Canada's NCIC Clinical Trials Group (NCIC CTG). The trial is expected to begin enrolling the first of its 250 patients in 2014.
Additionally, researchers at the University of Rome have announced plans to initiate a Phase II trial of DPX-Survivac in glioblastoma (brain cancer) patients in the first half of 2014. A third trial, using DPX-0907 to treat breast and ovarian cancer, is planned for initiation at Busto Arsizio Hospital in Milan.
About Ovarian Cancer
Ovarian cancer accounts for more deaths than any other gynecologic cancer. Symptoms do not occur until it is in the later stages of the disease, reducing the chance for successful treatment and remission. It kills more than 100,000 women annually around the world. Improved surgical techniques have helped to reduce the rate of recurrence according to some studies, but the average life expectancy of newly diagnosed ovarian cancer patients is less than four years.
Glioblastoma, the most common form of brain cancer, is a fast-growing tumor type that develops from astrocytes, a type of glial cell present in the brain. The National Cancer Institute estimates that more than 23,000 Americans will be diagnosed with brain and other nervous system tumors in 2013. Glioblastoma accounts for approximately 15 percent of all brain tumors. The current standard of care for glioblastoma patients calls for patients to receive maximum surgical resection combined with radiation and concomitant and adjuvant temozolomide therapy. Newly diagnosed glioblastoma patients have a median overall survival of less than 24 months.
Immunovaccine Inc. develops cancer immunotherapies and infectious disease vaccines based on the Company's DepoVax™ platform, a patented formulation that provides controlled and prolonged exposure of antigens and adjuvant to the immune system. Immunovaccine has advanced two T cell activation therapies for cancer through Phase I human clinical trials. Lead cancer vaccine therapy, DPX-Survivac, is expected to enter Phase II clinical studies in both ovarian cancer and glioblastoma (brain cancer). The Company is also advancing an infectious disease pipeline including innovative vaccines for respiratory syncytial virus (RSV) and anthrax. Connect at www.imvaccine.com
This press release contains forward-looking information under applicable securities law. All information that addresses activities or developments that we expect to occur in the future, including information regarding the use of proceeds of the financing, is forward-looking information. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made. However, they should not be regarded as a representation that any of the plans will be achieved. Actual results may differ materially from those set forth in this press release due to risks affecting the company, including access to capital, the successful completion of clinical trials and receipt of all regulatory approvals. Immunovaccine Inc. assumes no responsibility to update forward-looking statements in this press release except as required by law.
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