ImmunoCellular Therapeutics receives Notice of Allowance on ICT-69 monoclonal antibody

ImmunoCellular Therapeutics, Ltd. (OTCBB: IMUC), a biotechnology company that is developing immune based therapies for the treatment of various forms of cancer, announced today it received a Notice of Allowance on monoclonal antibody ICT-69 which targets multiple myeloma and ovarian cancers. The antibody has demonstrated high specificity to these cancers by targeting a novel cell surface antigen.

“We continue to be excited about working with the Roche Group in the development of this product.”

The new patent allows for a broad extension of the intellectual property to cover other chimeric antibodies or antibody-conjugates targeting the same antigen. Additionally, the company has 7 granted US patents and 8 issued international patents, and over 25 pending patents.

“This approval strengthens our intellectual property rights and potential value of our product ICT-69 significantly,” said Manish Singh, PhD, President and CEO of ImmunoCellular Therapeutics. “We continue to be excited about working with the Roche Group in the development of this product.”

The company has a research and license option agreement regarding its ICT-69 antibody with the Roche Group, one of the world's leading research-focused healthcare groups in the fields of pharmaceuticals and diagnostics. Under the terms of the agreement, the Company will license to Roche the rights to investigate the potential of ICT-69 in the diagnosis and treatment of multiple myeloma and ovarian cancer for an upfront payment. Upon completion of the evaluation period, Roche has the right to acquire for an option exercise payment a commercial license for ICT-69 from IMUC, which would result in total payments due to the Company of up to $32 million in the event that all developmental milestones are met. Royalties also will be payable to IMUC based on Roche's worldwide sales of ICT-69 products.

SOURCE ImmunoCellular Therapeutics