SAN DIEGO and PENNINGTON, N.J., Oct.
9, 2018 /PRNewswire/ -- OncoSec Medical Incorporated
(OncoSec) (NASDAQ: ONCS), a company developing intratumoral cancer
immunotherapies, today announced the closing of the first
$8 million tranche of its
$15 million investment from Alpha
Holdings, Inc. (KOSDAQ: 117670). This value-focused,
fundamental strategic investment is centered on the clinical
development of OncoSec's lead immunotherapy product candidate, TAVO
(tavokinogene telseplasmid). TAVO enables the intratumoral delivery
of DNA-based interleukin-12 (IL-12), a naturally occurring protein
with powerful immune-stimulating functions.
Alpha Holdings is a leading Korean technology company engaged in
the design, development, service and manufacture of system
semiconductors, as well as the development of biotechnologies and
thermal compound materials. Since 2002, Alpha Holdings has
successfully carried out many projects as a major partner of
Samsung Advanced Foundry Eco-system (SAFE) of Samsung Electronics.
Alpha Holdings, a listed company in the KOSDAQ Market, was founded
in 2002 and is headquartered in Seongnam, South Korea.
Under the terms of the agreement, Alpha Holdings has committed
to purchase a total of $15 million
worth of shares of common stock from OncoSec in two tranches at
$1.50 per share. The two tranches are
each subject to a six-month holding requirement from date of
funding. As stated above, Alpha has funded the first tranche
of $8 million. The closing of
the second tranche is subject to the satisfaction of certain
closing conditions. Further details of the transaction can be
found in the Form 8-K filed by the Company describing the
agreement.
About Alpha Holdings, Inc.
Alpha Holdings, Inc. is a top-ranked Korean company engaged in the
design-development service and manufacture of system
semiconductors. Since 2002, Alpha Holdings has successfully carried
out many projects as a major partner of SAFE (Samsung Advanced
Foundry Eco-system) of Samsung Electronics. The company, formerly
known as Alpha Chips Corp. changed its name to Alpha Holdings, Inc.
in August 2016 and has expanded its
business area into biotechnologies and thermal compound materials.
Alpha Holdings has invested more than 20
million USD in innovative biotechnology companies. Alpha
Holdings, a listed company in the KOSDAQ Market, was founded in
2002 and is headquartered in Seongnam, South Korea. For more information, please
visit www.alpha-holdings.co.kr.
About OncoSec Immunotherapies
OncoSec is a
clinical-stage biotechnology company focused on developing
cytokine-based intratumoral immunotherapies to stimulate the body's
immune system to target and attack cancer. OncoSec's lead
immunotherapy platform – TAVO (tavokinogene telseplasmid) – enables
the intratumoral delivery of DNA-based interleukin-12 (IL-12), a
naturally occurring protein with immune-stimulating functions. The
technology, which employs electroporation, is designed to produce a
controlled, localized expression of IL-12 in the tumor
microenvironment, enabling the immune system to target and attack
tumors throughout the body. OncoSec has built a deep and diverse
clinical pipeline utilizing TAVO as a potential treatment for
multiple cancer indications either as a monotherapy or in
combination with leading checkpoint inhibitors; with the latter
potentially enabling OncoSec to address a great unmet medical need
in oncology: anti-PD-1 non-responders. Results from recently
completed clinical studies of TAVO have demonstrated a local immune
response, and subsequently, a systemic effect as either a
monotherapy or combination treatment approach. In addition to TAVO,
OncoSec is identifying and developing new DNA-encoded therapeutic
candidates and tumor indications for use with its
ImmunoPulse® platform. For more information, please
visit www.oncosec.com.
CONTACT
Investor Relations:
Stern Investor Relations
Will O'Connor
Phone: (212) 362-1200
will@sternir.com
Media Relations:
David Schemelia / Jason
Rando
Tiberend Strategic Advisors, Inc.
Phone: 212-827-0020
dschemelia@tiberend.com
jrando@tiberend.com
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SOURCE OncoSec Medical Incorporated