Dr. William Hearl, ITI's President and CEO recently said, 'We’re now at an inflection point and preparing for more aggressive growth. We are pleased to bring Newport Coast on board as our partner to help us fund and accelerate this growth.'
Hershey, PA & Rockville, MD (PRWEB) July 29, 2014
July 29, 2014 - Immunomic Therapeutics, Inc. (ITI), a vaccine pioneer in the biotechnology industry, announced that it has engaged the financial services firm Newport Coast Securities, Inc. to explore financing opportunities that build shareholder value.
ITI is commercializing LAMP-vax technology, a breakthrough vaccine platform with the potential to transform the $25B+ vaccines and immunotherapy market. The company exclusively licensed the well-established LAMP platform from Johns Hopkins University in 2006. The company executed a strategy to build value and maximize return for investors, using a lean team of biotechnology professionals and scientists.
ITI has quickly emerged as a clinical stage company on the cusp of its third commercial out-license. It has done so by applying LAMP to allergy immunotherapy, a large and unmet therapeutic area with shorter timelines and more affordable clinical validation.
Since its inception, ITI has raised over $10M through the support of private investors.
"Our private investors have provided financial investments critical to our growth, and expertise in the biotech realm,” said William Hearl, ITI President and CEO. “We’re now at an inflection point and preparing for more aggressive growth. We are pleased to bring Newport Coast on board as our partner to help us fund and accelerate this growth.”
“Together, we will expand the applications and clinical development of LAMP products, out-license and collaborate with pharmaceutical companies, and build and maximize shareholder value,” Hearl said. “We look forward to continuing ITI’s mission to pioneer vaccines that will transform human life, while creating and building shareholder value.”
A platform biotech company, ITI's business model is to develop products to proof-of-concept, out-license them, and seek early-stage collaborations around LAMP vaccine programs. Its first product is a vaccine for the Japanese red cedar allergy. Phase I clinical trials showed excellent safety and immune responses, and the company is targeting business development opportunities with pharmaceutical companies in Japan. Now in advanced stages of Term Sheet negotiation, a deal is expected in 2015.
Comparables for the product range from $200M - $1B. This initial license, combined with current and planned fundraising with Newport Coast Securities, will validate the platform and non-dilutive funding for subsequent clinical development and out-license in other areas of pollen allergy, food allergy, oncology and animal health.
Dr. William Hearl will embark on a roadshow with Newport to showcase the company’s technology, report on its progress, and share future plans to the private and institutional investment community. The tour starts in August 2014.
About Newport Coast Securities, Inc.
Newport Coast Securities Inc., member FINRA/SIPC, is a full-service firm offering quality investment banking and distribution services to high quality small cap companies. Newport Coast is committed to long-term partnerships with emerging growth companies and the investors who back them. Newport Coast Securities Inc. offers a complete range of brokerage and investment banking services to small cap companies including public offerings, private placements, and M&A advisory, as well as a full range of brokerage and investment services to both institutional and private investors.
About Immunomic Therapeutics, Inc.
Immunomic Therapeutics, Inc. (ITI) is a privately held clinical stage biotechnology company headquartered in Lancaster, PA with lab facilities in Rockville, MD. ITI is developing next generation vaccines based on the patented LAMP Technology. Our LAMP-vax platform significantly increases the effectiveness of the immune response to nucleic acid vaccines while simplifying overall vaccine design and delivery, yielding safer, more cost-effective human and animal therapies. Our LAMP constructs have been validated in human clinical trials for cancer and have been applied to a wide breadth of targets including allergy, cancer and infectious diseases. For more information about ITI and LAMP Technology please visit http://www.immunomix.com or contact Kristi Hughes at MKJ Creative khughes(at)mkjcreative.com.