AroCell AB (publ) signs Letter of Intent with Korean-based company, Green Cross Cell Corporation.
November 22 2017 - 2:55AM
AroCell AB (publ) signs
Letter of Intent with Korean-based company, Green Cross Cell
Corporation.
The companies have agreed to
enter into a collaboration for the clinical development of TK 210
ELISA as a complementary biomarker related to Green Cross Cell's
therapeutic products and methods and distribution rights for
AroCell TK 210 ELISA.
The TK 210 ELISA test measures TK1 protein levels
for valuable information about the condition of cancer patients.
The test may provide important information for the prognosis and
optimization of treatment strategy.
"Developing medicines, especially new drugs,
necessitates investment of time and capital. It is hard to achieve,
without the beliefs and willingness to cure diseases." Says
Duck-joo Lee, CEO at Green Cross Cell. Since the inception of
indigenous development of cell therapy products in 2002, Green
Cross Cell has focused on research and development, determined to
deliver hope to patients and their families. As a result, in 2007,
Green Cross Cell acquired the product license of an anti-cancer
immunotherapy product for liver cancer, for the first time in the
world.
As a next-generation anticancer drug expressing
superior therapeutic effects to conventional anticancer drugs
having few side effects, Green Cross Cell's Immunotherapy not only
kills cancer cells, but also enhances the human immune system,
through which a comprehensive therapeutic effect is expected.
AroCell will have a positive role as a reliable
partner for Green Cross Cell in the world's biopharmaceutical
market striving to become a global leader in the field of cell
therapy through its intensive R&D studies. Green Cross Cell has
recently initiated a process to enter the US market and has
established high level collaboration with the State of
Maryland.
"This will have a great potential also for AroCell
and the TK 210 ELISA biomarker since the test will be a very strong
candidate in these studies" says Duck-joo Lee, CEO at Green Cross
Cell.
"We are very excited about this collaboration with
Green Cross Cell, not only the distribution of our product but also
the plan to use TK 210 ELISA as their primary biomarker for their
therapeutic drugs and treatments." Says Jan Stålemark, CEO at
AroCell. Green Cross Cell has one of the most promising therapies
for patients with very challenging cancers such as liver cancer,
colorectal and glioblastoma brain cancer.
AroCell is obliged to make public
this information pursuant to the EU Market Abuse Regulation and the
Securities Markets Act. The information was submitted for
publication through Jan Stålemark, at 08:55 CET on 22 November
2017.
About AroCell
AroCell AB (AROC) is a Swedish
company that develops standardized modern blood tests to support
the prognosis and follow up of cancer patients. AroCell's new
technology is based on patented methods to measure Thymidine Kinase
1 (TK1) protein levels in a blood sample. The TK 210 ELISA test
provides valuable information mainly about the condition of cancer
patients. This may help clinicians to optimize treatment strategies
and estimate the risk of recurrence of tumor disease during the
monitoring of the disease. AroCell (AROC) is listed at Nasdaq First
North and has about 2,500 shareholders. For more information,
please see www.arocell.com. Redeye AB is
AroCell:s Certified Adviser.
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: AroCell AB via Globenewswire
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