SAN JOSE, CA — (Marketwired) — 09/21/17 — ITUS Corporation (NASDAQ: ITUS) today provides a corporate update before its Annual Meeting of Stockholders to be held on September 22, 2017.
ITUS’s wholly owned subsidiary Anixa Diagnostics, recently renewed its research agreement with The Wistar Institute for continued development of Cchek™, its early cancer detection technology. Dr. Amit Kumar, President and CEO of ITUS stated, “We continue to make progress in our R&D efforts as we work with our partners, MD Anderson, U. Pennsylvania’s Abramson Cancer Center, Delaware Valley Urology, Virtua Hospitals, and others. Cchek™, which has demonstrated 91% sensitivity and specificity in a preliminary study, continues to perform at that level or better.”
ITUS also recently announced the issuance of US Patent 9,739,783 covering its technology for cancer detection. This ITUS patent was issued to inventors Dr. Amit Kumar and John Roop, the CEO and VP of Engineering, respectively, of ITUS Corp.
ITUS has also conducted and is conducting studies with multiple collaborators demonstrating the utility of its technology for not only cancer detection but also monitoring therapy and evaluating patient response to immuno-oncology drugs. Dr. Kumar stated, “The results of these studies to date have been consistent with the superior performance of our data in our own clinical studies. When completed, we plan to disclose the results of these studies in concert with each individual collaborator.”
Beyond cancer diagnostics development, ITUS plans to expand its fight against cancer, and has entered into an exclusive option agreement with The Wistar Institute to license intellectual property covering a proprietary Chimeric Antigen Receptor T-Cell (CAR-T) technology. The Wistar Institute’s CAR-T technology focuses initially on Ovarian Cancer with potential future applications in Prostate, Pancreatic and other cancers as well. The engineered T-cells will use the Follicle Stimulating Hormone (FSH) to target ovarian cells that express the FSH-Receptor. During the term of the option agreement, which terminates on November 14, 2017, ITUS has the exclusive right to evaluate and negotiate for an exclusive license to Wistar’s intellectual property. ITUS has begun negotiating terms of an exclusive license, but there can be no assurance that ITUS will conclude an agreement for such license. The Wistar Institute will not negotiate or market this technology to any other parties during this exclusive option period.
“We are very pleased with this exclusive option to our long-term partner’s innovative CAR-T technology. CAR-T technology has been the subject of much attention recently as pioneer CAR-T company Kite Pharma recently announced its acquisition by Gilead, and the FDA has recently approved Novartis’s Kymriah™ for treatment of B-cell Acute Lymphoblastic Leukemia. In addition to our ongoing discussions with The Wistar Institute, we are concurrently negotiating with one of the country’s top cancer centers to further develop the technology, aiming to complete the studies necessary to submit to the US FDA, enabling human testing on ovarian cancer patients,” stated Dr. Kumar. “CAR-T technology has shown tremendous promise in B-cell cancers, but very little progress has been made on solid tumors, like ovarian cancer. The Wistar Institute’s approach utilizes CAR-T technology in an innovative way which shows promise for ovarian cancer and other solid tumors, and their published animal studies show great efficacy,” added Dr. Kumar.
Dr. Kumar continued, “We hope to update our shareholders on all of these and other initiatives in the coming months.”
ITUS, a cancer-focused biotechnology company, through its wholly owned subsidiary, Anixa Diagnostics Corporation, is developing the Cchek™ platform, a series of non-invasive blood tests for the early detection of solid tumor based cancers, which is based on the body’s immunological response to the presence of a malignancy. ITUS also continually examines emerging technologies in complementary or related fields for further development and commercialization. Additional information is available at www.ITUScorp.com.
Forward-Looking Statements: Statements that are not historical fact may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not statements of historical facts, but rather reflect ITUS Corporation’s current expectations concerning future events and results. We generally use the words “believes,” “expects,” “intends,” “plans,” “anticipates,” “likely,” “will” and similar expressions to identify forward-looking statements. Such forward-looking statements, including those concerning our expectations, involve risks, uncertainties and other factors, some of which are beyond our control, which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. These risks, uncertainties and factors include, but are not limited to, those factors set forth in “Item 1A – Risk Factors” and other sections of our most recent Annual Report on Form 10-K as well as in our Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. You are cautioned not to unduly rely on such forward-looking statements when evaluating the information presented in this press release.
ITUS Corporation: FOCUSED ON INNOVATION™
Source: ITUS Corporation
Released September 21, 2017
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