Connectyx Announces Grant of License from National Institutes of Health for Use of Novel Monoclonal Antibody to Treat Glioblastoma
Connectyx Technologies Holdings Group (OTC: CTYX) announced an Exclusive Evaluation and Commercialization Option License Agreement with the National Cancer Institute to utilize a novel monoclonal antibody for treating pediatric Glioblastoma. This orphan disease has a grim survival rate of under two years. CTYX aims for a First-in-Human clinical trial within 18 months, with plans for a combined Phase 1/Phase 3 trial to expedite development. The global patent rights cover treatments for both adult and pediatric Glioblastomas, vital in addressing a pressing medical need.
- Entered an Exclusive Evaluation and Commercialization Option License Agreement with the National Cancer Institute.
- Focus on pediatric Glioblastoma, a high-need area with a less than two-year survival rate.
- Aiming for First-in-Human clinical trial readiness within 18 months.
- Plans to accelerate development through a combined Phase 1/Phase 3 trial.
- CTYX is not yet generating revenues.
- The company faces inherent risks and uncertainties in achieving clinical and market success.
Boca Raton, FL, Oct. 16, 2020 (GLOBE NEWSWIRE) -- Connectyx Technologies Holdings Group, Inc. (OTC: CTYX) (“Connectyx” or the “Company”), a development-stage biomedical company focusing on novel treatments for rare diseases today announced it has entered into an Exclusive Evaluation and Commercialization Option License Agreement with the National Cancer Institute (NCI), part of the National Institutes of Health (NIH), for use of a novel monoclonal antibody in an antibody-drug conjugate to treat brain cancer.
The licensed patent rights include US Patent No. 10,548,987 issued February 02, 2020 (Patent Application No. 15/747,620 filed January 25, 2018). HHS Ref. No. E-221-2015-0-US-03. “ANTIBODY - DRUG CONJUGATES FOR TARGETING CD56 - POSITIVE TUMORS.” The territory is worldwide.
While the field of use covers treating adult and pediatric Glioblastomas, the Company is targeting pediatric Glioblastoma, an orphan disease, as the first indication for this product.
Paul Michaels, Chairman and President of CTYX said, “We are pleased to have added this cutting-edge technology to our development portfolio. Pediatric Glioblastoma is one of the deadliest childhood diseases with an average survival rate of less than two years.”
Michaels concluded, “Recognizing the urgency for these patients and their families to find treatment options, our development plan anticipates being prepared for our First-in-Human clinical trial within 18 months, and our goal is to create a combined phase 1/phase 3 trial to accelerate development. We know these are extremely aggressive goals, but this is an extremely aggressive disease. At CTYX, we are building a pipeline of potential breakthrough medicines all of which can have an accelerated development pathway.”
About Pediatric Glioblastoma
Roughly 28,000 children are living with a primary brain tumor in the U.S. with approximately 3,700 new diagnoses each year. Brain and CNS cancers are the most prevalent of all childhood cancers. The five-year survival rate depends on the size, location, and makeup of the cancer; for the most aggressive Glioblastoma, it is less than two years.
About Connectyx Technologies Holdings Group, Inc. http://connectyx.com/
Connectyx is a development-stage biomedical company focusing on novel treatments for rare diseases. The Company is focused on therapies with potentially accelerated development paths as a result of the disease, the nature of the therapeutic itself, or the stage of clinical development. At Connectyx, we envision a world where all patients have a therapeutic option.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. CTYX is not yet generating revenues. Although forward-looking statements in this release reflect the good faith judgment of management, forward-looking statements are inherently subjected to known, unknown risks and uncertainties that may cause actual results to be materially different from those discussed in these forward-looking statements, including but not limited our ability to generate sufficient market acceptance for our products and services, our ability to generate sufficient operating cash flow, and general economic conditions. Readers are urged to carefully review and consider the various disclosures made by us in our reports filed with OTC Markets from time to time which attempt to advise interested parties of the risks and factors that may affect our business, financial condition, results of operation and cash flows. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. We assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release.
Contact:
Connectyx Technologies Holdings Group, Inc.
investorrelations@connectyx.com
Paul Michaels
561-418-7725
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