TapImmune signs Licensing Option agreement with Mayo Clinic for breast cancer vaccine technology

TapImmune Inc. (OTCBB:TPIV) announced that it has signed an exclusive Licensing Option agreement with Mayo Clinic, Rochester, MN, for clinical development of a breast cancer vaccine technology.  The option to license this technology can be exercised after Phase I clinical trials under terms agreed between Mayo Clinic and TapImmune.  Upon IND approval TapImmune and Mayo Clinic will execute a Sponsored Research Agreement.  Mayo Clinic will conduct a Phase I clinical trial in breast cancer patients who have a form of breast cancer that express Her2/neu receptors (also called Her2/neu breast cancer).  Keith Knutson, M.D., Mayo Clinic, will serve as Principal Investigator. 

Dr. Glynn Wilson, Chairman & CEO of TapImmune, stated, "We believe that this technology offers a number of advantages in the development of a breast cancer vaccine for a broad patient population.  The option to license this technology from Mayo Clinic offers us  potential to enhance our cancer vaccine portfolio and clinical research programs."