SAN DIEGO, June 17, 2015 /PRNewswire/ -- OncoSec
Medical Inc. ("OncoSec") (NASDAQ: ONCS), a company developing
DNA-based intratumoral cancer immunotherapies, today issued the
following letter from Punit Dhillon,
President and CEO of OncoSec, to the company's shareholders. The
letter and supplemental proxy information are available by clicking
here.
Dear Valued Shareholder,
Over the past two years, OncoSec has experienced unparalleled
growth and expansion of our team, research pipeline, and clinical
development activities. Thanks to the ambition and creativity of
approximately 50 OncoSec colleagues, we continue to champion our
company's purpose: to deliver new cancer treatments through
innovative science. As a result, OncoSec is now established as one
of the lead intratumoral immunotherapy companies. As we celebrate
our four-year anniversary, we reflect on our accomplishments to
date: an industry-leading intratumoral immunotherapy pipeline, a
state-of-the-art technology platform, key industry and academic
collaborations, a diverse range of research programs, and an
employee culture aligned with our values and purpose. I would like
to expand upon these recent achievements and our vision as we begin
the next chapter at OncoSec.
We have focused our efforts and aligned our clinical pipeline to
address one of the greatest challenges in oncology today: the
conversion of T-cell poor tumors into T-cell rich tumors. There is
increasing data that response to anti-PD-1/PD-L1 therapies depends
upon the presence of certain immune cells (CD8+ tumor-infiltrating
lymphocytes) in the patient's tumor. Interleukin-12 (IL-12) can
increase the number of these critical cells within tumors. At
OncoSec, we believe that our core technology, ImmunoPulse™ IL-12,
will drive a CD8-specific immune response both locally and
systemically, increasing the proportion of patients who will
respond to anti-PD-1 and other checkpoint therapies. Our Phase II
trial results in metastatic melanoma has led to an exciting new
collaboration with the University of
California, San Francisco, who will now be testing the
hypothesis that ImmunoPulse™ IL-12 can enhance response to Merck's
anti-PD-1 treatment, KEYTRUDA® (pembrolizumab).
While we work to advance our clinical studies, we are also
continuing to explore the broader applications of our ImmunoPulse™
technology. While our engineers work to develop advanced devices
capable of accessing difficult-to-reach tumors, the Discovery
Research team is investigating new DNA constructs and targets
focused on defeating cancer's ability to evade the immune system,
allowing the patient's immune system to recognize and attack the
tumor(s). To this end, our team is exploring different preclinical
combination approaches as well as screening new therapeutic
candidate molecules. From an operational perspective, we continue
to expand OncoSec's team and internal capabilities to reach the
next inflection point. We aim to strengthen and streamline the
R&D process as our colleagues unite in a single purpose-built
facility this year.
As a public company, we understand the need to create and
increase value for our shareholders. We believe the data generated
from our studies as well as the expansion of our versatile platform
will lead to increased partnership opportunities. By continuing to
validate our technology both clinically and preclinically, we
expect to be in a better position to attract a strategic partner to
aid in the continued development of our programs and create this
value. This year also marked the execution of a key corporate
development goal: uplisting to the NASDAQ Capital Market. As a
NASDAQ-listed company, we are now able to broaden our shareholder
base, raise the visibility of OncoSec's capabilities, and generate
even more value for our shareholders.
As we build on our success and advance our pipeline for the
benefit of patients everywhere, I want to express my sincere
appreciation to all our shareholders. We are making clear progress
towards accomplishing our mission to deliver a new standard of
cancer care through innovative science. As we continue on our
journey we are thankful for your ongoing confidence and
support.
Sincerely,
Punit Dhillon
CEO and President
June 17, 2015
About OncoSec Medical Inc.
OncoSec Medical Inc. is a
biopharmaceutical company developing its investigational
ImmunoPulseTM intratumoral cancer immunotherapy. OncoSec
Medical's core technology is designed to
enhance the local delivery and uptake of DNA IL-12 and
other DNA-based immune-targeting agents. Clinical studies of
ImmunoPulseTM have demonstrated an acceptable safety
profile and preliminary evidence of anti-tumor activity in the
treatment of various skin cancers, as well as the potential to
initiate a systemic immune response limiting the systemic
toxicities associated with other treatments. OncoSec's lead program
evaluating ImmunoPulseTM for the treatment of metastatic
melanoma is currently in Phase II development, and is being
conducted in collaboration with several prominent academic medical
centers. As the company continues to evaluate
ImmunoPulseTM in its current indications, it is also
focused on identifying and developing new immune-targeting agents,
investigating additional tumor indications, and evaluating
combination-based immunotherapy approaches. For more information,
please visit www.oncosec.com.
This press release contains forward-looking statements within
the meaning of the U.S. Private Securities Litigation Reform Act of
1995. Any statements in this release that are not historical facts
may be considered such "forward-looking statements."
Forward-looking statements are based on management's current
preliminary expectations and are subject to risks and
uncertainties, which may cause our results to differ materially and
adversely from the statements contained herein. Some of the
potential risks and uncertainties that could cause actual results
to differ from those predicted include our ability to raise
additional funding, our ability to acquire, develop or
commercialize new products, uncertainties inherent in pre-clinical
studies and clinical trials, unexpected new data, safety and
technical issues, competition, and market conditions. These and
additional risks and uncertainties are more fully described in
OncoSec Medical's filings with the Securities and Exchange
Commission. Undue reliance should not be placed on forward-looking
statements, which speak only as of the date they are made. OncoSec
Medical disclaims any obligation to update any forward-looking
statements to reflect new information, events or circumstances
after the date they are made, or to reflect the occurrence of
unanticipated events.
CONTACT:
Investor Relations:
Jordyn Kopin
OncoSec Medical Inc.
855-662-6732
investors@oncosec.com
Media Relations:
Mary Marolla
OncoSec Medical Inc.
855-662-6732
media@oncosec.com
Logo -
http://photos.prnewswire.com/prnh/20120905/LA68078LOGO
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/oncosec-medical-issues-annual-letter-to-shareholders-300100998.html
SOURCE OncoSec Medical Inc.