TapImmune Chairman and CEO Provides Corporate Update to Current and Future Shareholders; $TPIV
TapImmune Inc. (OTCBB: TPIV) is a biotechnology company specializing in the development of innovative therapeutics and vaccines in the areas of oncology and infectious disease. The company's lead product, the TAP vaccine performs a key step in moving characteristic markers called antigens to the surfaces of cells. Without TAP, there are no cancer markers, so the immune system fails to spot the rogue cells and the cancerous cells can grow undetected. The Company's vaccine has shown effective restoration of TAP which restores and augments the marker (antigen) presentation and subsequent recognition and killing of cancer cells by the immune system. The TAP molecule also works as an adjuvant or 'accelerant' to enhance targeted vaccines against infectious diseases. Including TAP in the studied Smallpox Vaccine showed potency was increased by 100-1000 times. The company is currently developing AdhTAP for the commencement of toxicology studies leading to the initiation of Phase I clinical trials. The global vaccine market is expected to grow from $13 billion in 2007 to $21 billion in 2010.
Glynn Wilson, Chairman and CEO of TapImmune, has provided a corporate update to current and future shareholders.
Highlights include:
- In November, Mark Reddish joined the company as Vice President of Product Development. Mark is a recognized leader in vaccine technology development with an impressive track record in taking leading immunotherapy products from early research through development, both in the areas of cancer vaccines and biodefense.
- In January, the company opened their new laboratories and offices at 1551 Eastlake Avenue in Seattle. The opening of these new facilities is consistent with the company’s strategy of managing costs using a small core internal team that leverages external resources.
- In August the FDA approved an IND (Investigational New Drug application) and the Company signed a sponsored research agreement with the Mayo Clinic for a Phase 1 Her2neu Breast Cancer Clinical Trial, which is scheduled to start in the first quarter of 2012. The trial will use a patented technology developed at the Mayo clinic. TapImmune has the exclusive Option to license this technology.
Read the full update at TapImmune.com.
Dr. Wilson concluded his update as follows:
"In 2011 we made significant progress with very few resources. Our recent progress and our build up of resources indicate that we will make even greater progress in 2012. On the technology and product pipeline side, I believe we are fundamentally strong and poised to be a leading company in a highly attractive and expanding market, a position reinforced by our recruitment of top-class managers, advisors and investors who all share our vision. I thank them all for their efforts.
It is clear that our share price has not yet caught up with our corporate and technology progress, but I believe that this will happen as we expand our activities and our progress becomes more widely known and understood."
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