This Letter of Intent involves
Title: Immune Therapeutics signs Binding Letter of Intent to Acquire Chinese CAR-T Technology and Clinical Data
Industry: Biotechnology and Drugs Sector: Healthcare
Immune Therapeutics signs Binding Letter of Intent to Acquire Chinese CAR-T Technology and Clinical Data
Orlando, Florida. April 20, 2016 – Immune Therapeutics Inc., (OTC-QB: IMUN), today announced that they have signed a binding Letter of Intent to acquire Chinese Chimeric Super Antigen Receptor T cell (CAR-T) cocktail therapy, Immuno-Oncology patents (pending), manufacturing technology, and clinical data of the aforementioned therapies from Super-T Cell Cancer Company (“STCC”) a newly formed corporation.
“This CAR-T cell technology licensing further accelerates IMUN’s growth in the Immuno-Oncology field as we evaluate paths to commercialization both in China and other Emerging Markets,” commented Christopher Pearce Chief Operating Officer.
CAR-T cell therapy involves engineering cancer patients’ own immune cells to recognize and attack cancer tumors. CAR-T therapy has great potential to improve patient-specific cancer therapy in a profound way. Numerous studies have implicated regulatory T cells as key mediators in the creation of an immunosuppressed microenvironment that enables tumors to escape attack by the host immune system. The Super CAR –T Cocktail therapy has shown promise in early human clinical trials for the treatment of blood cancer, renal, cervical and hepatic cancer.
“We are very impressed by the quality of the work done by Professor Shan and his team, and are excited by the safe and efficacious profile of this novel CAR-T cocktail therapy for cancerous diseases. This is the beginning of a long-term strategic partnership between IMUN and STCC. Together, we will expeditiously continue our quest in developing more affordable, safer, and more effective cancer immunotherapy programs,” said Noreen Griffin, Chief Executive Officer of Immune Therapeutics, Inc.
The need in China for new affordable therapies is critical. It is predicted that there will be about 4,292,000 newly diagnosed invasive cancer cases in 2016, corresponding to almost 12,000 new cancer diagnoses on average