SAN DIEGO, Calif., Feb. 10, 2020 /PRNewswire-PRWeb/ -- With numerous products in its pipeline, Cytonus Therapeutics Inc. today announced a strategic partnership agreement with Phoenestra GmbH to accelerate Cytonus' existing products and to expand the companies' intellectual property assets. Cytonus is a biotech company founded in San Diego, California. Phoenestra is a biotech company located in Austria.
Phoenestra has developed IP assets in connection with cell reprogramming as well as non-invasive sources for cell lines. The strategic partnership with Cytonus will expand both companies' combined IP assets through co-development collaboration projects. As part of the strategic partnership, Phoenestra will also provide Cytonus new manufacturing capabilities, including a new production facility focused on operating in full compliance with Good Manufacturing Practices (GMP). Since its inception, Phoenestra has focused on an end-to-end approach to ensure both quality control and scalability, starting with the efficient sourcing of material from unique cell sources and producing finished GMP-certified products.
"We are honored to join forces with Cytonus," commented Phoenestra CEO and Founder Klaus Graumann, PhD. "Phoenestra will work to complement and accelerate Cytonus' game-changing Cargocyte™ biotechnologies."
"Our co-development projects will create fertile ground for further expanding the combined IP assets and pipeline of products for Cytonus and Phoenestra," commented Phoenestra CFO and Founder Otto Kanzler.
"Cytonus is thrilled to gain the benefit of Phoenestra's scientific excellence, quality IP assets, as well as the top talent of their highly experienced executives, who have decades of biopharma industry experience and were instrumental in the past development of more than eleven biologics that are now commercial products," commented Cytonus' Founder and CEO Remo Moomiaie-Qajar, MD.
About Cytonus Therapeutics Inc.
Cytonus Therapeutics Inc. is a US-based biotech platform company that is developing proprietary immunotherapeutic products to treat a wide range of medical conditions including cancers and inflammatory diseases, and to improve patient outcomes. Its proprietary Cargocyte™ technologies are next-generation molecular delivery devices, which have numerous medical applications across unmet therapeutic areas. Cargocytes are engineered to transport a multiplicity of therapeutic payloads into targeted tissues, and can be programmed to deliver selective, potent, and controllable "off-the-shelf" therapies. Cytonus' vast platform of products has the potential to improve the health and lives of millions of people across the globe. For more information, please visit the Cytonus website at https://Cytonus.com. Follow Cytonus on LinkedIn and its Twitter feed at: @CytonusTx.
Statements in this news release other than strictly historical facts, such as statements about Cytonus' and Phoenestra's plans and strategies, new and existing products and technologies, anticipated clinical and regulatory pathways, and markets for its products, are forward-looking statements. The words "believe," "expect," "aim," "anticipate," "estimate," "project," and similar expressions identify forward-looking statements that speak only as of the date hereof. Such statements involve risks and uncertainties that could cause actual results to differ materially from anticipated results due to many factors, including regulatory and development risks. The companies undertake no obligation to publicly update or revise any forward-looking statement. This news release is neither an offer to sell, nor the solicitation of any offer to purchase, any security.
Follow Cytonus on LinkedIn and Twitter at: @CytonusTx.
SOURCE Cytonus Therapeutics Inc.
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