ImmunoCellular Therapeutics acquired all of Molecular Discoveries’ (MDC) mAb-related technology (IMUC). The company has thus significantly expanded its business from the initial focus on a dendritic cell-based vaccines for the treatment of brain tumors.
The transaction includes a discovery platform and preclinical candidates. “With the acquisition of this powerful technology, IMUC will have a full armamentarium of immune solutions for cancer: from cellular cancer vaccines that generate a long-lived response to an antibody-based therapy to kill cancer cells,” points out John Yu, M.D., chairman of IMUC.
In exchange, IMUC will issue 800,000 shares of its common stock and will reimburse the firm and one of its principals for certain patent expenses related to the technology.
The antibody platform technology is called DIAAD™. The acquired compounds include candidates for the potential detection and treatment of multiple myeloma, colon, small cell lung, pancreatic, and ovarian cancers.
IMUC says that it will use the newly acquired technology to begin development of a diagnostic/prognostic product for small cell lung and pancreatic cancers.