VANCOUVER, British Columbia and SEATTLE and DAEJON, Korea, Oct. 29, 2019 (GLOBE NEWSWIRE) -- Pascal Biosciences Inc. (TSX.V:PAS) (“Pascal”) and Y-Biologics (together the “Companies”) today announced a research collaboration agreement for the discovery and development of novel bispecific antibodies for the treatment of leukemia. Under the terms of the agreement, Y-Biologics will contribute its novel bispecific antibody platform technology, ALiCE, and Pascal will utilize its proprietary antibodies. The Companies will share responsibility for the discovery and validation of lead candidates and pursuing the optimal development path. Further terms were not disclosed.
“We are excited by the opportunity to advance our novel antibodies with the leading bispecific antibody technology developed by Y-Biologics,” said Patrick Gray, Ph.D., CEO of Pascal. “This agreement allows us both to collaborate in the advancement of ground-breaking technology for treating leukemia.”
“We are delighted that Pascal has recognized the potential of our proprietary bispecific antibody platform technology, ALiCE, to address unmet medical needs in leukemia. Pascal is a desirable partner for Y-Biologics with their expertise in oncology and commitment to develop novel therapeutics, and we are confident that our collaboration will provide new clinical options for leukemia patients,” said Young-Woo Park, Ph.D., CEO of Y-Biologics.
About Pascal Biosciences
Pascal is a biotechnology company focused on advancing innovative approaches for the treatment of cancer including targeted therapies for acute lymphoblastic leukemia and cannabinoid-based therapeutics. Pascal’s leading portfolio also comprises a small molecule therapeutic, PAS-403, that is advancing into clinical trials for the treatment of glioblastoma, and PAS-393, an immuno-stimulatory cannabinoid to be used in combination with checkpoint inhibitor therapy. For more information, visit www.pascalbiosciences.com.
About Y-Biologics
Founded in 2007, Y-Biologics is a biotech company in South Korea renowned for its expertise in antibodies. Y-Biologics is dedicated to the discovery and development of novel antibody therapeutics based on its proprietary human antibody library Ymax-ABLTM & bispecific technology ALiCETM (Antibody Like Cell Engager). Y-Biologics aims to be a leading biopharmaceutical company in immuno-oncology by utilizing its two platform technologies. Y-Biologics can be found at: www.ybiologics.com.
About ALiCE
*ALiCE is Y-Biologics’ novel bispecific antibody platform technology which has a unique two-by-one structure to minimize the off-target toxicity. In contrast to mutation-based engineering platform technologies, ALiCE harnesses innate assembly mechanisms of cell lines to preserve natural domains from the original antibodies.
FOR FURTHER INFORMATION:
| Pascal Investors: invest@pascalbio.com |
| Media: Julie Rathbun info@pascalbiosciences.com Tel: 206-769-9219 |
| Y Biologics Wooshik Kim Senior Business Development Manager +82 (42) 862 9906 |
DISCLAIMER
Certain statements in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 or forward-looking information under applicable Canadian securities legislation that may not be based on historical fact, including without limitation statements containing the words “believe”, “may”, “plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect” and similar expressions. Such forward-looking statements or information involve known and unknown risks, uncertainties and other factors that may cause our actual results, events or developments, or industry results, to be materially different from any future results, events or developments express or implied by such forward-looking statements or information. Such factors include, among others, our stage of development, lack of any product revenues, additional capital requirements, risk associated with the completion of clinical trials and obtaining regulatory approval to market our products, the ability to protect our intellectual property, dependence on collaborative partners and the prospects for negotiating additional corporate collaborations or licensing arrangements and their timing. Specifically, certain risks and uncertainties that could cause such actual events or results expressed or implied by such forward-looking statements and information to differ materially from any future events or results expressed or implied by such statements and information include, but are not limited to, the risks and uncertainties that: products that we develop may not succeed in preclinical or clinical trials, or future products in our targeted corporate objectives; our future operating results are uncertain and likely to fluctuate; we may not be able to raise additional capital; we may not be successful in establishing additional corporate collaborations or licensing arrangements; we may not be able to establish marketing and the costs of launching our products may be greater than anticipated; we have no experience in commercial manufacturing; we may face unknown risks related to intellectual property matters; we face increased competition from pharmaceutical and biotechnology companies; and other factors as described in detail in our filings with the Canadian securities regulatory authorities at www.sedar.com. Given these risks and uncertainties, you are cautioned not to place undue reliance on such forward-looking statements and information, which are qualified in their entirety by this cautionary statement. All forward-looking statements and information made herein are based on our current expectations and we undertake no obligation to revise or update such forward- looking statements and information to reflect subsequent events or circumstances, except as required by law.
“Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release”