Quantum Immunologics Is Awarded Significant Government Research Grant Approval
Quantum Immunologics, Inc. ("QI"), a Tampa-based company currently engaged in an FDA-authorized clinical study of its autologous dendritic cell immunotherapy for Stage IV breast cancer patients.
- (1888PressRelease) November 20, 2010 - Recently announced that it has been awarded approval for each of three grant applications relating to the US Government's Qualifying Therapeutics Discovery Project (QTDP) grant program.
The total amount awarded to QI is $646,000.00. This corresponds with the three development projects:
1. Dendritic cell therapy for treatment of breast cancer - QI is developing an OFA/iLRP loaded autologous dendritic cell technology which represents a new therapeutic approach to the treatment of breast cancer utilizing the patient's own immune system.
2. Development of OFA/iLRP peptides for the treatment of cancer - The development of OFA/iLRP peptides main goal is to provide a process improvement for our dendritic cell therapy. This technology represents a new therapeutic target to treat cancer utilizing the patient's own immune system.
3. Development of monoclonal antibodies against OFA/iLRP for the treatment and diagnosis of cancer - This research is focused on utilizing monoclonal antibodies against specific peptide regions of the oncofetal antigen (OFA).
According to Chairman and CEO Chuck Broes, "The award of these grants represents an outstanding mark of achievement for QI's scientific endeavors. In addition, QI's shareholder base should feel very confident about the further strengthening of its financial position. This award provides the Company with significant funds that not only bolsters its operating capital but is also non-dilutive to our existing shareholders."
About Quantum Immunologics
Quantum Immunologics is dedicated to the research, development and production of products and services that will promote unique, individualized immunologic cancer treatment and early detection technologies with a high rate of efficacy, minimal side effects and greatly reduced cost compared to current treatments.
Quantum Immunologics has received FDA authorization to apply its exclusively licensed immunotherapy technology in a Phase I/II human clinical study. QI's Phase I/II clinical trial, which involves a cohort of 27 patients with advanced-stage metastatic breast cancer, is designed around the use of QI's proprietary dendritic cell therapy, which employs the oncofetal antigen/immature laminin receptor protein ("OFA/iLRP") to recruit the patient's own immune system to target the cancer cells with the goal of improving patient survivability and quality of life.
Forward-Looking Statements
This press release contains "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and involve risks and uncertainties, which may cause results to differ materially from those set forth in the statements. The forward-looking statements may include, but are not limited to, statements regarding product development, product potential or financial performance. No forward-looking statement can be guaranteed and actual results may differ materially from those projected. Quantum Immunologics, Inc. undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.
For more information, contact Tim Schwiers at Quantum Immunologics, Inc.
1881 West Kennedy Blvd , Suite 100
P.O. Box 20727
Tampa, Florida 33623
813 849 7885
or visit Quantum Immunologics, Inc. online at www.quantumimmunologics.com.
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