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BOSTON, July 02, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Vaccex, Inc. a Boston, Massachusetts-based biotechnology company that is focused on developing and commercializing immunotherapy products for the treatment of cancer, announced today that the company is proposing to raise capital to initiate the development of its lead product, VX001, which is expected to enter clinical trials by the end of 2020. Vaccex is quoted on the OTC Markets under the symbol “VCEX”. The terms of the proposed offering are as yet undecided, but it is expected to be an offering of equity securities of the company.
In the following months, the company expects to establish all the needed partnerships and advisory contracts to ensure that the first clinical trials can be done with high predictability and a strict adherence to plan to get the best results utilizing the management teams’ vast experience in this field as well as their wealth of contacts and partners within the biotech and healthcare industries.
“We believe that our lead product candidate, VX001, presents a unique opportunity to address the large unmet medical need in the treatment of patients with metastasized solid tumors. We expect that being a fully reporting public company will provide increased trust in the company and increased access to capital to accelerate the clinical development of VX001” said Dr. Per Horn, President and CEO, of Vaccex, Inc.
“The approach of Vaccex is unique in the growing area of cancer immunotherapy and provides a potential prolongation of life expectancy or even a cure for patients who currently have little hope of disease regression” said Dr. Morten Albrechtsen, Clinical and Medical Advisor to Vaccex, Inc.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offering, solicitation or sale would be unlawful. Any offers of equity securities will be made only by means of a private offering memorandum.
VX001 is a sustained release formulation of a potent TLR7/8 agonist that works in synergy with fractionated radiotherapy (RT). VX001 is a potent stimulator of the innate immune system and intra-tumoral injection of VX001 in combination with RT causes tumor regression, long-term survival and prevention of cancer upon re-challenges in syngenic mouse models. VX001 and RT is therefore a promising treatment regimen for clinical testing in metastatic solid tumor patients and the combined treatment is being prepared for clinical proof of concept studies in 2020.
About Vaccex, Inc.
Vaccex, Inc. (OTC: VCEX) is a development stage biotechnology company focused on developing and commercializing immunotherapy products for the treatment of solid tumors. Vaccex is driven to bringing VX001 in combination with radiotherapy to patients with metastatic solid tumors for whom no other treatment is available and also exploiting opportunities for using VX001 as an effective add-on treatment to other approved treatment modalities such as chemotherapy, antibodies or checkpoint inhibitors in multiple cancer indications. For more information, please visit www.vaccex.com.
Vaccex, Inc. Forward-Looking Statements
This press release contains “forward-looking statements” as that term is defined in the Private Securities Litigation Reform Act of 1995, regarding the research, development and commercialization of pharmaceutical products. Such forward-looking statements are based on current expectations and involve inherent risks and uncertainties, including factors that could delay, divert or change any of them, and could cause actual outcomes and results to differ materially from current expectations. No forward-looking statement can be guaranteed. Forward-looking statements in the press release should be evaluated together with the many uncertainties that affect Vaccex’ business and Vaccex undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.
Per Horn, CEO