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Highlights
- Australian biopharma firm EnGeneIC strikes a deal to grant US-based Biotech giant ImmunityBio, an exclusive license for nano cell technology for anti-cancer drugs and COVID-19 vaccines.
- Post this announcement, shares of ImmunityBio Inc. (NSQ:IBRX) closed 21.9% higher at US$7.79 on Nasdaq.
Sydney based biopharmaceutical firm EnGeneIC has struck a groundbreaking deal with US biotech ImmunityBio, over a path-breaking approach to both a COVID-19 vaccine as well as cancer treatment.
On Tuesday, shares of ImmunityBio Inc. (NSQ:IBRX) closed 21.9% higher at AU$7.79 after EnGeneIC stated that it would grant ImmunityBio an exclusive license for nano cell technology jointly with anti-cancer drugs and Covid-19 vaccines.
Initial results from a clinical trial in adults suggest that the antibodies generated can neutralise COVID-19 and all of its variants, including Delta. Though, it is worth noting that there is no mention of the Omicron variant.
EnGeneIC's patented EDV™ (EnGeneIC Dream Vector) nano cell technology targets and efficiently kills cancer cells with minimal toxicity while spurring an anti-tumour immune response. Phase I and IIa trials in patients with advanced pancreatic cancer are underway, and the FDA recently passed another trial in the US.
The companies have agreed to equally split the net profit from worldwide sales of EDV-based therapeutics on a 50:50 basis.
ImmunityBio will set up manufacturing facilities in the US and South Africa.
On 18 November, IBRX said that it is expanding its vaccine programs, including the increased use of "mix-and-match" technologies to develop potential Covid-19 vaccines.
In April, ImmunityBio revealed pleasing data from a Phase 1 study of a Covid-19 vaccine candidate. Later, ImmunityBio and Amyris Inc. unveiled plans for a joint venture to accelerate the commercialization of a Covid-19 vaccine.
About EnGeneIC
EnGeneIC is a private company that is not listed on the Australian share market.
Thus, anyone willing to purchase EnGeneIC shares will have to wait to see if the Company decides to go public by launching an initial public offering (IPO) in the near future.
But given the latest groundbreaking deal, it would be no surprise if the Company is seen on ASX in near future.
