Biotech stocks have been at the forefront of Wall Street Rally with Dow escalating higher and higher. A biotech company that caught our attention today was OncBioMune Pharmaceuticals, Inc. (OTCMKTS:OBMP). OBMP announced that they are Submitting Clinical Trial of World’s First Early-Stage Prostate Cancer Vaccine to The Cancer Therapy Evaluation Program (CTEP) at the National Cancer Institute. Click HERE to Read More
GenVec Inc (NASDAQ:GNVC) entered into an exclusive option agreement with the Washington University to leverage its technology associated with genes and cells. The company announced that the agreement will allow it a licensed technology and intellectual property, as far as gene editing and pulmonary endothelial cell targeting is concerned.
This agreement is of much importance for the company since it will allow it to broadly utilize the technology created by David T. Curiel from radiation oncology department and Jeffrey Arbeit from surgery department of university. Initially, GenVec Inc will apply the technology in researching possible treatments of hemophilia.
Focusing on new therapeutic approaches
Company’s President and CEO, Douglas Swirsky said that the agreement will play a vital role for company to establish its indigenous proprietary program through pulmonary endothelium of an individual as a site. This site, in turn, shall be used for protein production. Company has its own vectors, at present, which are sourced from its AdenoVerse platform. This platform is used for gene editing payloads.
Douglas Swirsky expects that the agreement will allow it in exploring new and diverse therapeutic approaches, which will be paramount in genetic disorders correction. The disorders of genes can result in conditions, such as blood factor deficiencies.
The company hopes that the agreement with the Washington University will enable it to make use of its gene editing and cell targeting approaches, both of which, shall provide necessary proteins to patients. This will allow it to address hemophilia, apart from other medical needs of the patients.
By signing an exclusive agreement with the University, the company has made another strategic decision, which will enable it to fetch long term benefits. The application of University’s technology will go a long way in addressing the needs of patients that are primarily company’s target audience.
Gene editing and cell targeting technology are crucial in the medical fields, with a few companies able to fully apply its use.
