Cytocom Announces Acquisition of ImQuest Life Sciences
Acquisition adds financial and scientific resources, strengthens internal drug development programs
WINTER PARK, Fla., July 20, 2020 /PRNewswire/ -- Cytocom, Inc., a private clinical-stage biopharmaceutical company developing novel immune modulating therapies targeting caner, autoimmune, inflammatory, and infectious diseases based on proprietary platforms, today announced the acquisition of ImQuest Life Sciences, Inc., a research and development company focused specifically on cancer, inflammation and infectious disease treatments, including its subsidiaries in an all-stock transaction.
Subsequent to the acquisition closing, ImQuest Pharmaceuticals, the drug development arm of ImQuest Life Sciences, will be merged into Cytocom's existing drug development operations. Meanwhile, ImQuest BioSciences, a contract research organization (CRO), will continue to operate as a separate wholly-owned, revenue-generating subsidiary of Cytocom. Financial details of the acquisition were not disclosed.
Founded in 2004, ImQuest Life Sciences provides services and tools to drug makers through its ImQuest BioSciences subsidiary to evaluate vaccines, biologics and pharmaceuticals in preclinical development against infectious diseases, cancer and inflammatory diseases. The company also has a drug development pipeline, built through strategic alliances and exclusive licensing deals, focused on treatments for cancer, HIV, hepatitis B and C, influenza, and drug-resistant microorganisms.
"The acquisition of the ImQuest business unit solidly supports our vision of strategic growth for Cytocom," said Michael K. Handley, Cytocom CEO. "Cytocom already has four Phase 3-ready clinical programs for Crohn's disease, fibromyalgia, multiple sclerosis and pancreatic cancer in our pipeline and other assets in earlier stages of clinical development. With ImQuest Life Sciences, and its subsidiaries, we have not only strengthened and expanded our internal drug development program with new assets, but also secured revenue-generating operations, scientific resources, and tools and capacity that we can harness to further advance our mission to develop new immunotherapies targeting cancers, infectious diseases, and autoimmune disorders."
Mr. Handley continued, "Core to ImQuest's value is its contract research operations under ImQuest BioSciences, as well as the ImQuestSUCCESS platform of services and tools, which are designed to help drug makers evaluate preclinical drug candidates to identify compounds that are likely to succeed in preclinical and clinical trials. The ability to minimize time-consuming and expensive preclinical and clinical failures is a potential gamechanger for drug makers, and ImQuest has proven its unique capabilities. Cytocom is excited to utilize and further develop these same tools to strengthen our internal drug discovery and development efforts."
ImQuest BioSciences will maintain its existing management team under the leadership of Robert W. Buckheit, Jr., PhD, President and Chief Scientific Officer, and continue to provide services to drug makers and researchers. Dr. Buckheit will also serve as Chief Technical Officer of Cytocom.
"The acquisition by Cytocom aligns ImQuest with a company that shares our excitement for the promise of our preclinical CRO services and tools, as well as the potential for our portfolio of novel therapeutic agents in development for HIV, hepatitis B and C, influenza and drug resistant infections," said Dr. Buckheit. "Cytocom is the ideal partner to unlock the value of ImQuest BioSciences and its ImQuestSUCCESS platform and our internal development programs."
About ImQuest Life Sciences, Inc.
ImQuest Life Sciences is a leading drug discovery and development company with a highly focused strategy of developing a proprietary portfolio of novel therapeutic agents to target infectious disease and cancer. Our business model is to commercialize exciting new drugs with unique mechanisms of action both independently as well as in partnership with other pharmaceutical companies. For more information, visit http://www.imquestls.com
About Cytocom, Inc.
Cytocom, Inc. is a clinical-stage biopharmaceutical company developing novel immunotherapies targeting autoimmune, inflammatory, infectious diseases and cancers based on a proprietary platform that is designed to rebalance body's immune system. Cytocom is using its therapies to elicit directly within patients a powerful and durable response of antigen-specific killer T cells and antibodies, thereby activating essential immune defenses against autoimmune, inflammatory, infectious diseases and cancers. The company believes that its technologies can meaningfully leverage the human immune system for prophylactic and therapeutic purposes by eliciting killer T cell response levels not achieved by other published immunotherapy approaches. The company's platform technology as immunomodulatory is to restore a balance between the cellular (Th1) and the humoral (Th2) immune systems. Immune balance is regulated through T-helper cells that produce cytokines. The Th1 lymphocytes help fight pathogens that are within cells like cancer and viruses through activation of interferon-gamma and macrophages. The Th2 lymphocytes target external pathogens like cytotoxic parasites, allergens, toxins through the activation of B-cells and antibody production to effect to dendritic cells, which are natural activators of killer T cells, also known as cytotoxic T cells, or CD8+ T cells.
Forward-Looking Statements:
This release contains forward-looking statements that involve substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Risks and uncertainties include, among other things, uncertainties inherent in research and development; the uncertainties inherent in business and financial planning, including, without limitation, risks related to Cytocom's business and prospects, adverse developments in Cytocom's markets, or adverse developments in the U.S. or global capital markets, credit markets, regulatory environment or economies generally; the impact of COVID-19 on our business, operations and financial results; and competitive developments. The Company assumes no obligation to update forward-looking statements contained in this release as a result of new information or future events or developments.
Contacts
Tiberend Strategic Advisors, Inc.
Investors
Maureen McEnroe, CFA/Miriam Weber Miller
212-375-2664/212-375-2694
[email protected]
[email protected]
Media
Johanna Bennett
212-375-2686
[email protected]
SOURCE Cytocom, Inc.
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