NetScientific PLC (LON:NSCI) has upped its stake in PDS Biotechnology, a developer of cancer immunotherapies and vaccines for infectious diseases.
The Aim-listed firm exercised warrants for 1.39mln shares at a cost of US$687,493.
NetScientific has now invested a total of US$3.5ln in PDS Biotechnology, giving it a 14.6% stake.
PDS is operating in the exciting area of immuno-oncology – activating the body's own immune system to recognise and destroy cancer cells.
The field has caused a lot of excitement in the medical world, but one of the major drawbacks has been reports of debilitating toxicities – a drawback PDS has conquered with its Versamune T-cell (a type of white blood cell) activating platform.
PDS's cancer treatment pipeline includes compounds for prostate, ovarian, breast and colorectal cancers, in addition to its lead PDS0101 programme for several HPV-related cancers – HPV, or human papillomavirus, being a virus that infects the skin and the cells lining body cavities.
PDS has positive phase I/IIa trial data under its belt and has agreed partnership funding from the National Institute of Health and MD Anderson for three phase II clinical trials.
Shares in NetScientific rose 2.3% to 67p on the news.