ImmunoCellular Therapeutics Receives Notice of Allowance for Monoclonal Antibody ICT-69

ImmunoCellular Therapeutics, a biotechnology company focused on developing immune-based therapies for cancer, announced today that it has received a Notice of Allowance for its monoclonal antibody ICT-69. This antibody targets multiple myeloma and ovarian cancers, demonstrating high specificity by targeting a novel cell surface antigen. The new patent allows for a broad extension of the company's intellectual property to cover other chimeric antibodies or antibody-conjugates targeting the same antigen.

The company has a strong portfolio of intellectual property, with 7 granted US patents and 8 issued international patents, as well as over 25 pending patents. The approval of ICT-69's patent strengthens the company's intellectual property rights and potential value of the product. ImmunoCellular Therapeutics has a research and license option agreement with the Roche Group, a leading research-focused healthcare group, to develop ICT-69 for multiple myeloma and ovarian cancer.

Under the terms of the agreement, the company will receive an upfront payment, and upon completion of the evaluation period, Roche has the right to acquire a commercial license for ICT-69 from IMUC, resulting in total payments of up to $32 million if all developmental milestones are met. Royalties will also be payable to IMUC based on Roche's worldwide sales of ICT-69 products.

Key Takeaways:

ImmunoCellular Therapeutics received a Notice of Allowance for its monoclonal antibody ICT-69, targeting multiple myeloma and ovarian cancers.
The new patent allows for a broad extension of the company's intellectual property to cover other chimeric antibodies or antibody-conjugates targeting the same antigen.
The company has 7 granted US patents and 8 issued international patents, as well as over 25 pending patents.
The approval strengthening the company's intellectual property rights and potential value of the product ICT-69.
ImmunoCellular Therapeutics has a research and license option agreement with the Roche Group to develop ICT-69 for multiple myeloma and ovarian cancer.
Under the agreement, the company will receive an upfront payment and potential royalties based on Roche's worldwide sales of ICT-69 products.
Total payments of up to $32 million are possible if all developmental milestones are met.

Statistics:

7 granted US patents
8 issued international patents
Over 25 pending patents
Up to $32 million in potential payments from Roche Group
Percentage of global market share of cancer therapies that could be targeted by IMUC's products is not specified

Sources:

Press release by ImmunoCellular Therapeutics, Ltd. (OTCBB: IMUC)