Shares of ImmunoCellular Therapeutics Ltd. (OTC: IMUC), a Los Angeles-based clinical-stage company engaged in the development of immune-based for the treatment of brain and other cancers, surged in Thursday�s trading session after the company announced that it entered into an agreement with University of Pittsburg.�
ImmunoCellular shares rose to a new 52-week high of $3.22 on Thursday before finishing the day 12.14% higher at $3.14 on above average volume of 660,202.�
Under the terms of the agreement, University of Pittsburg has licensed to IMUC intellectual property surrounding EphA2, a tyrosine kinase receptor that is highly expressed by ovarian cancer and other advanced and metastatic malignancies. IMUC has been granted a worldwide exclusive license to the university�s intellectual property for ovarian and pancreatic cancers and worldwide non-exclusive license to the university�s intellectual property for brain cancer.�
ImmunoCellular Therapeutics plans to use the intellectual property in the development and commercialization of its ICT-140, which is a multivalent, dendritic cell-based vaccine for the treatment of ovarian cancer. ICT-140 has been designed to target cancer stem-cells as well as daughter cells in ovarian cancer by targeting multiple different antigens, including EphA2, mesothelin, Her-2/neu, IL-12Ra2 and several other undisclosed antigens.
Dr. Manish Singh, Ph.D., President and CEO of ImmunoCellular Therapeutics, said that experimental data have indicated that EphA2 holds significant promise as an immunotherapeutic target, specifically for dendritic cell-based vaccines such as ICT-140. Dr. Singh said that IMUC plans file an Investigative New Drug application for ICT-140 in the fourth quarter of 2012.�
He added that while further research is necessary to identify the therapeutic value of EphA2, IMUC�s decision to license it reflects its det! erminati on to develop a novel vaccine that harnesses the patient�s native immune system to precisely and comprehensively target multiple antigens associated with ovarian cancer.�
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