SAN DIEGO, March 15, 2011 /PRNewswire/ — OncoSec Medical Inc.
(OTC Bulletin Board:
ONCSD), a developer of innovative and proprietary medical
approaches to treat solid tumor cancers with unmet medical needs,
announced today that it has signed an agreement with Inovio
Pharmaceuticals, Inc. (NYSE Amex:
INO) providing for the purchase by OncoSec of certain non-DNA
vaccine technology and intellectual property relating to
electroporation technology useful for electrochemical and cytokine
based immune therapies for treating solid tumors. OncoSec will pay
Inovio an undisclosed purchase price for the assigned assets and
cash fees and a royalty on commercial product sales.
(Logo: http://photos.prnewswire.com/prnh/20110314/MM64943LOGO)
Dr. J. Joseph Kim, Inovio’s president and CEO, said: “As Inovio
advances its leadership in the DNA vaccine field with several Phase
II clinical studies for cervical dysplasia, leukemia, and hepatitis
C virus therapies, we are pleased to enable third parties to commit
their focus and resources to achieve the commercial potential of
Inovio’s non-DNA vaccine assets. Prior clinical testing of our
selective electrochemical tumor treatment and cytokine cancer
therapies produced promising results and we are excited to monetize
this electroporation asset for these applications and see its
advancement by OncoSec. We wish the company every success in this
endeavor.”
Mr. Punit Dhillon, OncoSec’s president and CEO, said: “We are
excited to conclude this agreement with Inovio to acquire this
promising technology for locally targeted cancer treatments, which
have previously achieved important clinical outcomes, and
immediately begin the implementation of our clinical development
and commercializati
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