("NetScientific" or the "Company" or the "Group")
NetScientific Executed Warrants in Portfolio Company, PDS Biotechnology, a new paradigm in cancer immunotherapy
London, UK - 16 December 2016 - NetScientific plc ("NetScientific", AIM:NSCI), the transatlantic healthcare IP commercialisation group, announces that it has exercised warrants for 1,387,480 shares in its portfolio company, PDS Biotechnology. The total price for these shares was $687,492.68.
PDS is a clinical stage immuno-oncology company committed to the development of potent and safe immunotherapies which alter tumour immunology to enable superior killer T-cell attack. The Company has developed the Versamune® T-cell activating platform, the first immuno-oncology technology to successfully combine the three critical attributes of effective immunotherapies in a simple nanoparticle, whilst also eliminating the potentially debilitating toxicities of some of the leading immunotherapy approaches. PDS's oncology pipeline includes compounds for prostate, ovarian, breast and colorectal cancers, in addition to its lead PDS0101 program for several HPV-related cancers. With positive phase I/IIa trial data, PDS has agreed partnership funding from the National Institute of Health and MD Anderson for three phase II clinical trials.
NetScientific has now invested a total of $3.5m for a shareholding in PDS Biotechnology of 14.6%, on a fully diluted basis.
- Ends -
For more information, please contact:
François R. Martelet, M.D., CEO
Ian Postlethwaite, CFO
Tel: +44 (0)20 3514 1800
Stifel Nicolaus Europe Limited (NOMAD and broker)
Jonathan Senior / David Arch / Ben Maddison
Tel: +44 (0) 20 7710 7600
Consilium Strategic Communications
Mary-Jane Elliott / Jessica Hodgson / Chris Welsh
Tel: +44 (0)20 3709 5700
About NetScientific Plc
NetScientific is a transatlantic healthcare IP commercialisation group focused on improving the health and well-being of people with chronic diseases.
For more information, please visit the website at www.netscientific.net.
About the Versamune® T-Cell Activating Platform:
Versamune® is a synthetic T-cell activating nanotechnology that overcomes a key obstacle facing cancer immunotherapy by facilitating efficient access of cancer protein antigens to pathways that enable their effective presentation to killer T-cells. This process trains the body's T-cells to recognise and efficiently attack the cancer. The ingredient of the Versamune® platform has also been proven to activate critical immunological signalling pathways that result in the safe production of immunological proteins known as cytokines and chemokines locally within the lymph nodes to recruit T-cells, and enhance T-cell proliferation as well as the killing activity of T-cells. Activation of these immunological pathways may also be responsible for the ability of the Versamune® -based immunotherapies to reduce the population of immune suppressive cells and to facilitate the killing activity of the T-cells specifically within the tumours.
PDS Biotechnology Corp.
Frank Bedu-Addo, Ph.D., CEO
Michael King, M.B.A., CFO
Email: [email protected]
This information is provided by RNS