AAVP Biosystems, Inc. Now Named PhageNova Bio, Inc. and Renata Pasqualini, PhD, Appointed as Chief Scientific Officer

NEW YORK, Nov. 1, 2018 /PRNewswire/ -- AAVP Biosystems, Inc. a developmental stage gene delivery company initially focused on the pursuit of a new therapy for cancer indications, is now named PhageNova Bio, Inc. 

PhageNova Bio's hybrid vector platform relies on combining the targeting capability of bacteriophage and the sustained gene expression of adeno-associated virus genetic elements.  After significant preclinical research and a successful early round of financing, the company has prioritized a therapeutically active ligand-directed version of the vector that selectively localizes to multiple tumor types upon intravenous administration. This name change comes at a transformative time for the company, as it accelerates its manufacturing and IND-enabling efforts. 

As PhageNova Bio ramps up its research and development efforts, it appoints Renata Pasqualini, PhD to the position of Chief Scientific Officer. Dr. Pasqualini is Professor and Chief, Division of Cancer Biology, Department of Radiation Oncology, Rutgers Cancer Institute of New Jersey. She is a Founder of the company, a co-inventor of the underlying intellectual property, and has been a continual force in PhageNova Bio. 

Regarding her appointment as Chief Scientific Officer, Dr. Pasqualini stated, "Leading a program that is potentially transformative and will rapidly evolve towards first in human studies is incredibly appealing. We look forward to bringing important advances to science and medicine as we embark upon our next stages of development."

Commenting on these announcements, Jason Rifkin, President and CEO of PhageNova Bio stated, "I am extraordinarily grateful for Dr. Pasqualini's groundbreaking research and continued involvement in the Company. Formalizing her role as Chief Scientific Officer is a great step for PhageNova Bio as we continue to advance our phage-based vector to the clinic."

About PhageNova Bio, Inc.
PhageNova Bio, Inc. is an early stage biotechnology company developing a unique approach to systemically administered targeted gene delivery. The core technology relies on an engineered hybrid bacteriophage adeno-associated virus vector, developed at the MD Anderson Cancer Center by the Founders of the company, and subsequently fully and exclusively licensed to the company. Adeno-associated virus-bacteriophage (also referred to as "AAVP") is a hybrid vector platform developed by combining the targeting capability of phage and the sustained gene expression of an adeno-associated virus.  After significant preclinical research and a successful early round of financing, the company has prioritized a therapeutically active ligand-directed version of the vector that selectively localizes to multiple tumor types upon intravenous administration. The company is actively pursuing pre-IND enabling studies in order to carry out a Phase 1 clinical study.

More information can be found at www.phagenovabio.com

SOURCE PhageNova Bio, Inc.

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http://www.phagenovabio.com