FIT BIOTECH OY
April 5th, 2016 at 9:00 am EET
Finnish FIT Biotech and US Ichor to collaborate on new cost effective infectious disease treatment
FIT Biotech Oy (“FIT Biotech”) (Nasdaq: FITBIO) and Ichor Medical Systems (“Ichor”) of San Diego, California announced today that they have entered into a Research Collaboration Agreement. The purpose of the collaboration is to test FIT Biotech’s proprietary GTU® technology in combination with Ichor’s TriGrid® electroporation system in order to elicit the endogenous production of protective antibodies for passive immunoprophylaxis. By offering the prospect for rapid and sustained production of highly active antibodies from a recipient’s own cells, this approach could provide a new potential avenue to prevent the onset and progression of a wide range of infectious diseases.
The ultimate goal of the research is the development of a highly adaptable and cost effective infectious disease product platform capable not only of addressing currently circulating infectious pathogens but also emerging diseases with the potential to cause worldwide pandemias.
If the test results are favourable, the partners intend to incorporate FIT Biotech’s GTU® technology with Ichor’s TriGrid® electroporation system, to be used in further testing within Ichor’s internal monoclonal antibody studies as well as other development programs.
Rabbe Slätis, FIT CEO, comments: “We look forward to this exciting research collaboration with Ichor Medical Systems administering FIT Biotech’s GTU® technology, using the TriGridTM technology. The collaboration is significant step forward in our new strategy, which is based on applying GTU® technology to gene-based therapies. Future success of this approach may position the technologies favorably for use in other broad spectrum biodefense and pandemic applications.”
Robert Bernard, Ichor Founder and CEO, states: “Using our clinically validated TriGrid® electroporation technology with FIT Biotech’s GTU® technology is extraordinarily exciting for Ichor. We look forward to this opportunity to collaborate with FIT in establishing synergy between our two proprietary technologies”.
CEO, FIT Biotech Oy
Telephone: +358 40 840 6749
Certified Advisor: Translink Corporate Finance Oy, telephone +358 20 743 2790
About FIT Biotech Oy
FIT Biotech Oy is a biotechnology company established in 1995. The company develops and licenses its patented GTU® (Gene Transport Unit) vector technologies for new-generation medical treatments. GTU® is a gene transport technology that may provide a significant solution to the medical challenges surrounding gene based treatments and DNA vaccines.
FIT Biotech presently applies the GTU® technology to its drug development programmes. Example application areas are cancer (gene based treatment), infectious diseases such as HIV and tuberculosis and animal vaccines.
FIT Biotech shares are listed on the First North Finland market maintained by Nasdaq OMX Helsinki Oy.
For further information visit http://dev2.sitefactory.fi/fitbiotech.com/public_html
About Ichor Medical Systems
Ichor Medical Systems’ TriGrid(TM) Delivery System (TriGrid) is the first integrated and fully automated device for electroporation-mediated DNA administration in humans. Ichor, a privately-held biotech company based in San Diego, CA, is collaborating with partners to provide its enabling TriGrid platform as a means for delivery of DNA drugs and vaccines in disease indications such as melanoma, hepatitis infection, human papilloma virus, human immunodeficiency virus (HIV) infection, Ebola, as well as for multiple biodefense agents.
For further information, visit http://www.ichorms.com.
Ichor Medical Systems, Inc.
May de las Alas-Pidding, Ph.D.
Director, Business Development
(858) 550-2022 x104