ImmunoVaccine Technologies (IVT) plans to acquire Immunotope under a binding memorandum of understanding. The transaction will allow IVT to create a pipeline of therapeutic cancer and infectious disease specific vaccines, according to the companies.
IVT focuses on the commercialization of its VacciMax® platform, which reportedly delivers long duration of immunity in a single administration without boosting or significant side effects. VacciMax will be combined with Immunotope's portfolio of immunotherapeutic antigens, which will be developed for the treatment of cancer and chronic viral infections.
“The complementary scientific and management skills of IVT and Immunotope will enable us to leverage our respective strengths and increase our capability to develop therapeutic and prophylactic vaccines,” remarks Ramila Philip, Ph.D., president and CSO of Immunotope. “Therapeutic cancer vaccines that combine the right antigens with a powerful delivery system have the potential to treat cancer early and prevent recurrence.”
The companies expect to complete the acquisition by June 2008.