ProtoKinetix’s AAGP® Signs a Material Transfer Agreement with a Reputed International Biotech Company
MARIETTA, Ohio--(BUSINESS WIRE)--Jun 13, 2018--ProtoKinetix, Incorporated ( www.protokinetix.com ) (the “Company” or “ProtoKinetix”) (OTCQB: PKTX ) is pleased to announce that it has executed a Material Transfer Agreement (MTA) with a reputed biotechnology company having a number of worldwide offices on four continents.
Under the MTA, ProtoKinetix and this company are working together to test the effects AAGP® have on three projects:
1. Cryopreservation of Primary Mammalian Tissue Cells
2. Enhancing the Viability of Primary Mammalian Cells
3. Cell Lines Under Stressed Culture Conditions
Before testing a drug in human patients, researchers use primary cells from different human donors to verify that the same effects are observed. Except for the enzymatic and/or physical dissociation required for extracting the cells from their tissue of origin, primary cells are not altered in any way. Primary Cell lines are hardy, chiefly because they have to last a long time in culture and be capable of surviving multiple rounds of cryopreservation and thawing.
Mammalian cell culture is at the core of bio manufacturing therapeutic proteins and viral vaccines. Cells isolated from animal tissues can be expanded in culture for use as a research tool for the production of virus vaccines and various therapeutic proteins, and to generate functional cells or tissue analogues for regenerative medicine. In the past quarter century, cells derived from animals, especially mammals, have become a major vehicle for producing biologics, a class of medications that includes vaccines and various proteins used in treating cancer, genetic diseases, and other ailments.
Mammalian cells can be made to produce vaccines through viral infection and therapeutic proteins through genetic engineering. Many of these medicines are necessary for patients who either lack the normal form of a protein or cannot produce it in sufficient quantity. Other therapeutic proteins include antibodies and specific binding proteins that neutralize disease-causing molecules within the body. Human cells, in particular, are poised to enable opportunities in cell-based therapy and regenerative medicine. The technology that exists now can derive stem cells from many sources and guide them to become specific cell types for clinical applications.
Preliminary results of the testing program are scheduled to be presented to ProtoKinetix by mid- summer. Should these results be successful, under the MTA, this company has the right to negotiate a licensing agreement for each application initiating the global commercialization of AAGP®.
Based on projections from Grand View Research, Inc., the global cell line development market size is expected to reach $3.96 billion by 2019 and is anticipated to grow at a compound annual growth rate (CAGR) of 12.9% over the forecast period. Growing biopharmaceutical industry is anticipated to drive the demand for cell line development procedures.
President and Chief Executive Officer Clarence E. Smith commented, “We are delighted to be collaborating with this reputed, international biotechnology company with facilities worldwide. If testing proves to be successful, this may give ProtoKinetix the first opportunity to license outAAGP®.”
About ProtoKinetix, Incorporated
ProtoKinetix is a molecular biotechnology company that has developed and patented a family of hyper stable, potent glycopeptides (AAGP®) that enhance both engraftment and protection of transplanted cells used in regenerative medicine. Due to the results achieved over the last four years of testing, the University of Alberta has begun Phase 1 human clinical trials. Additional studies may be expanded to include whole organ transplantation and all therapies that are being developed globally to date including diabetes, retinal degeneration, cardiac repair and other degenerative conditions. PKTX is also studying the potential impact on several cancer therapies.
Cautionary Note Regarding Forward-Looking Statements
The information discussed in this press release includes “forward looking statements” within the meaning of Section 27A of the Securities Act of 1933 (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934 (the “Exchange Act”). All statements, other than statements of historical facts, included herein concerning, among other things, planned capital expenditures, future cash flows and borrowings, pursuit of potential acquisition opportunities, our financial position, business strategy and other plans and objectives for future operations, are forward looking statements. These forward looking statements are identified by their use of terms and phrases such as “may,” “expect,” “estimate,” “project,” “plan,” “believe,” “intend,” “achievable,” “anticipate,” “will,” “continue,” “potential,” “should,” “could,” and similar terms and phrases. Although we believe that the expectations reflected in these forward looking statements are reasonable, they do involve certain assumptions, risks and uncertainties and are not (and should not be considered to be) guarantees of future performance. Among these risks are those set forth in a Form 10-K filed on March 9, 2018. It is important that each person reviewing this release understand the significant risks attendant to the operations of ProtoKinetix. ProtoKinetix disclaims any obligation to update any forward-looking statement made here.
View source version on businesswire.com:https://www.businesswire.com/news/home/20180613005237/en/
CONTACT: ProtoKinetix, Incorporated
Clarence E. Smith,304-299-5070
President and Chief Executive Officer
KEYWORD: UNITED STATES NORTH AMERICA OHIO
INDUSTRY KEYWORD: HEALTH BIOTECHNOLOGY CLINICAL TRIALS ONCOLOGY RESEARCH SCIENCE
SOURCE: ProtoKinetix, Incorporated
Copyright Business Wire 2018.
PUB: 06/13/2018 09:15 AM/DISC: 06/13/2018 09:15 AM