Heat Biologics Announces Significant Expansion of R&D and Pre-Clinical Capabilities at Corporate Headquarters
June 23 2021 - 7:30AM
Heat Biologics, Inc. (“Heat”)
(NASDAQ: HTBX), a clinical-stage
biopharmaceutical company focused on developing first-in-class
therapies to modulate the immune system, including multiple
oncology product candidates and a novel COVID-19 vaccine, today
announced the expansion of its research and development facilities
in Morrisville, North Carolina. The expansion will support the
addition of enhanced research and development capabilities
including in-house synthesis of antibodies and other drugs/reagents
as well as an expanded vivarium for onsite pre-clinical studies.
Jeff Wolf, Chief Executive Officer of Heat
Biologics, stated, “We are delighted to announce plans to double
the size of the current facilities to support and accelerate
activities around our oncology and non-oncology programs. By
bringing more of our development and pre-clinical activities
in-house, we expect to accelerate R&D timelines and generate
cost savings on research and development that would have otherwise
been achieved through use of third-party service providers. We look
forward to leveraging these new facilities as we accelerate our
discovery and development efforts.”
About Heat Biologics, Inc.
Heat Biologics is a biopharmaceutical company
focused on developing first-in-class therapies to modulate the
immune system. The company's gp96 platform is designed to activate
immune responses against cancer or infectious diseases. The Company
has multiple product candidates in development leveraging the gp96
platform, including HS-110, which has completed enrollment in its
Phase 2 trial, and a COVID-19 vaccine program in preclinical
development. In addition, Heat is also developing a pipeline of
proprietary immunomodulatory antibodies and cell-based therapies,
including PTX-35 and HS-130, both currently in Phase 1 clinical
trials.
For more information, please visit:
www.heatbio.com, and also follow us on Twitter.
Forward Looking Statement
This press release includes forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995 on our current expectations and projections
about future events. In some cases, forward-looking statements can
be identified by terminology such as "may," "should," "potential,"
"continue," "expects," "anticipates," "intends," "plans,"
"believes," "estimates," and similar expressions. These statements
are based upon current beliefs, expectation, and assumptions and
include statements such as accelerating R&D timelines and
generating cost savings on research and development that would have
otherwise been achieved through use of third-party service
providers by bringing development and pre-clinical activities
in-house and leveraging the new facilities to accelerate our
discovery and development efforts. These statements are subject to
a number of risks and uncertainties, many of which are difficult to
predict, including the ability of Heat to leverage the new
facilities to accelerate R&D timelines and generate the ability
of Heat's therapies to perform as designed, to demonstrate safety
and efficacy, as well as results that are consistent with prior
results, the ability to enroll patients and complete the clinical
trials on time and achieve desired results and benefits, especially
in light of COVID-19, Heat's ability to obtain regulatory approvals
for commercialization of product candidates or to comply with
ongoing regulatory requirements, regulatory limitations relating to
Heat's ability to promote or commercialize its product candidates
for specific indications, acceptance of its product candidates in
the marketplace and the successful development, marketing or sale
of products, Heat's ability to maintain its license agreements, the
continued maintenance and growth of its patent estate, its ability
to establish and maintain collaborations, its ability to obtain or
maintain the capital or grants necessary to fund its research and
development activities, its ability to continue to maintain its
listing on the Nasdaq Capital Market and its ability to retain its
key scientists or management personnel, and the other factors
described in Heat's most recent annual report on Form 10-K filed
with the SEC, and other subsequent filings with the SEC. The
information in this release is provided only as of the date of this
release, and Heat undertakes no obligation to update any
forward-looking statements contained in this release based on new
information, future events, or otherwise, except as required by
law.
Media and Investor Relations
Contact
David Waldman+1 919 289
4017investorrelations@heatbio.com
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