LOS ANGELES, Jan. 26, 2015 (GLOBE NEWSWIRE) -- Lion Biotechnologies, Inc. (LBIO), a biotechnology company that is developing novel cancer immunotherapies based on tumor-infiltrating lymphocytes (TIL), today announced that its existing Cooperative Research and Development Agreement (CRADA) with the National Cancer Institute (NCI) has been amended to include four new tumor indications for TIL therapy.
Under the modified terms of the CRADA, the NCI has granted Lion the rights to develop TIL therapy for the treatment of bladder, lung, triple-negative breast and HPV-associated cancers (including cervical and head and neck cancers), in addition to the company's current programs in metastatic melanoma. Furthermore, the NCI has agreed to provide Lion with samples of all tumors covered by the amendment for performing studies related to improving TIL selection and/or TIL scale-out production and process development.
To fund the NCI's expanded development efforts and support, Lion will increase its annual payments to NCI from $1 million to $2 million.
"Through this expansion of our CRADA with NCI, we are pleased to have the opportunity to apply TIL to the treatment of several additional solid tumors," said Elma Hawkins, PhD, Lion's president and chief executive officer. "Clinical and preclinical findings indicate significant therapeutic potential for TIL in the treatment of bladder, lung, triple-negative breast and HPV-associated cancers, which historically have been difficult to treat. As we continue to advance our metastatic melanoma trials, we look forward to working with NCI to expand our clinical programs in these new indications, while continuing to enhance the quality and efficiency of TIL production."
About Lion Biotechnologies
Lion Biotechnologies, Inc. is engaged in the development of T cells and engineered T cells for the treatment of various cancers. The company's lead product candidate, LN-144, is a ready-to-infuse, autologous T-cell therapy utilizing tumor-infiltrating lymphocytes (TIL) for the treatment of patients with metastatic melanoma, and is based on a clinical Cooperative Research and Development Agreement with the National Cancer Institute. TIL therapy is also being evaluated in physician-sponsored clinical trials at MD Anderson Cancer Center and the H. Lee Moffitt Cancer Center & Research Institute. For more information, please visit http://www.lionbio.com.
Forward Looking Statements
This press release contains certain forward-looking statements that are subject to a number of risks and uncertainties, including the risks relating to the Company's ability to conduct its Phase 2 clinical trial in metastatic melanoma, to the Company's ability to successfully expand its clinical programs to the new indications covered by the CRADA amendment, and to further successfully develop or commercialize the Company's TIL technologies. Additional risks and uncertainties are described in the Company's most recently filed quarterly report on Form 10-Q and annual report on Form 10-K. Except as permitted by law, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Investor Relations The Trout Group Gitanjali Jain Ogawa 646-378-2949
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