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Immunovaccine Issues Second Quarter 2017 Letter to Shareholders

August 8, 2017 at 5:15 PM EDT

Dear Fellow Shareholder,

Having closed another active three months at Immunovaccine, our key accomplishments in the second quarter of 2017 included:

  • Realizing several milestones with our partners Dana-Farber Cancer Institute (DFCI) and Merck
  • Advancing a second immuno-oncology candidate into clinical testing
  • Achieving two clinical milestones for DPX-Survivac as a combination therapy for recurrent ovarian cancer and some forms of recurrent lymphoma
  • Announcing groundbreaking immunogenicity results for our DPX-RSV vaccine candidate
  • Closing a $10M CAN bought deal financing

We continued to expand and accelerate the progress within our immuno-oncology program. First, our second anti-cancer clinical candidate, DPX-E7, formally entered clinical testing in a study led by DFCI. The first study participant was treated in the Phase 1b/2 clinical study, which is evaluating DPX-E7, in combination with low-dose cyclophosphamide, in patients with incurable cancers related to the human papillomavirus (HPV).

In addition, we achieved two clinical milestones for our lead product candidate, DPX-Survivac:

  • Health Canada granted regulatory clearance to the Princess Margaret Cancer Centre for a Phase 2 clinical study: This trial will evaluate the safety and efficacy of Merck’s checkpoint inhibitor, pembrolizumab, in combination with DPX-Survivac and low-dose cyclophosphamide in patients with recurrent ovarian cancer.

  • We also announced the initiation of another triple combination, investigator-sponsored Phase 2 clinical trial. This study will evaluate the efficacy and safety of DPX-Survivac, along with a checkpoint inhibitor drug currently marketed by a large pharmaceutical company, and low-dose cyclophosphamide, in patients with recurrent diffuse large B cell lymphoma (DLBCL).

With regard to our work in infectious disease, in a follow-up to our Phase 1 study evaluating our vaccine candidate in respiratory syncytial virus (RSV), researchers found that 100 percent of volunteers who responded initially to our DPX-RSV vaccine sustained that response one year post-vaccination. We believe that the strength and duration of the immune response are very significant, particularly for a small B cell epitope agent. In addition, these findings indicate the potential for DPX-RSV to address a significant market opportunity and unmet medical need in the elderly population: to provide protection against RSV for an entire season.

Finally, we completed a $10M CAN bought deal prospectus offering during the quarter. With this financing in place, we are well positioned for a Phase 1 clinical trial aimed at expanding the application of DPX-Survivac across multiple indications. With DPX-Survivac’s clinically demonstrated ability to target survivin, which has been implicated in over 20 types of cancer, we believe that we have only begin to exploit the potential of our lead candidate.

To read our press release on our 2017 Q2 Financial Results, please click here.

Thank you for your continued support, and we look forward to a productive second half of 2017.

Frederic Ors

Frederic Ors
Chief Executive Officer