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ApoImmune, Inc. Awarded NIH Phase I SBIR Grant for Cervical Cancer Vaccine
July 31, 2007 (Louisville, KY) - ApoImmune, Inc. today announced that it has been awarded a Phase I Small Business Innovation Research (SBIR) grant of $300,000 from the National Institutes of Health. Funding from the grant will be used to develop a cervical cancer vaccine based on the Company's novel ApoVax104 platform technology. This is the Company's fifth NIH SBIR/STTR award.
The six month Phase I SBIR grant was awarded by the National Institute of Allergy and Infectious Disease (NIAID), and will fund preclinical work developing a vaccine against human papillomavirus (HPV) infections and cervical cancer. HPV is the virus that causes cervical cancer in women.
"The awarding of this grant is validation of our efforts to develop our novel vaccine platform technology," said Steven Downey, President and CEO of ApoImmune. "Our ongoing plans for our novel ApoVax104-HPV vaccine are to establish its safety and efficacy as a therapeutic vaccine for cervical cancer."
If ApoVax104-HPV proves effective in these initial proof-of-concept experiments, the Company will apply for a Phase II SBIR grant to further develop ApoVax104-HPV into a lead commercial product to test in a Phase I clinical trial. In addition, ApoVax104 vaccines may not only protect against cancer but also against infectious diseases, leading to the development of an entire line of ApoVax104-based vaccines with significant potential in the millions of dollars.
About ApoImmune, Inc.
ApoImmune Inc. is a Louisville, Kentucky-based biotechnology company developing novel immunotherapies, which are treatments based on the concept of regulating the immune system to fight disease. The Company's lead immunotherapy is based on the ProtEx technology's ability to teach the immune system to recognize foreign pathogens as harmful and specifically target those harmful cells for destruction. ApoImmune is also developing ProtEx to suppress the immune system in certain cases, which improves current organ and tissue transplant therapies by protecting the transplant from being attacked by the recipient's immune system when transplanted into the body. An added benefit of the ProtEx immune system suppression technology is that it also reduces the need for powerful immunosuppressive drugs with highly toxic effects that are required after transplantation.
For more information, visit www.apoimmune.com.
Certain statements made throughout this press release that are not historical facts contain forward-looking statements regarding the Company's future plans, objectives and expected performance. Any such forward-looking statements are based on assumptions that the Company believes are reasonable, but are subject to a wide range of risks and uncertainties and, therefore, there can be no assurance that actual results may not differ materially from those expressed or implied by such forward-looking statements.
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