PHILADELPHIA, Oct. 12,
2023 /PRNewswire/ -- Virion Therapeutics, LLC, a
clinical-stage biotechnology company developing novel T
cell-based immunotherapies, and Ocean Biomedical, Inc.
(NASDAQ: OCEA), a biopharma company working to accelerate
the development of compelling discoveries from top research
scientists, today announced they have entered into a joint venture
to accelerate and expand Virion's clinical-stage program and
pipeline, with the goal of finding cures for patients with
cancer and chronic infectious diseases.
Virion has begun enrolling a multi-national, first-in-humans
study, "VRON-0200," for the treatment of persons with
chronic hepatitis B virus (HBV) infection, with the goal of
providing a functional cure for a disease that affects over 300
million patients worldwide. Additionally, Virion has
IND-enabling activities for their oncology program
underway.
The pipeline is built upon a novel class of immune-modulators,
specifically, Virion's proprietary genetically encoded checkpoint
modifiers (CPMs), which have demonstrated enhanced and broadened
CD8+ T cells, which has resulted in unprecedented immune
responses and clinical activity in a wide range of animal models of
different diseases.
Ocean is advancing potential immunotherapies for lung, brain,
and other cancers by targeting chitinase 3-like-1 expression
(CHi3L1) with mono- and bi-specific antibodies and has
additional development programs in fibrosis and for the treatment,
and prevention, of malaria.
"We are pleased to be entering into this joint venture with
Virion. Altering T cell activation to significantly improve immune
responses, and subsequently treatment outcomes, is highly
innovative and an exciting new technology with a wide array of
potential uses for both cancer and chronic infectious diseases,"
said Dr. Chirinjeev Kathuria, Ocean's Executive Chairman and
co-founder. "We've been impressed with Virion's clinical
development expertise and their ability to advance the lead
VRON-0200 Chronic HBV program into clinical trials and are looking
forward to seeing the first clinical data from this program within
the next few months. We are also excited to help support their
oncology program, which is targeted for IND submission in the next
9 months. We believe there is great synergy between the companies
and that the team and corporate infrastructure at Ocean can help
Virion accelerate their development programs, and Virion can assist
Ocean in advancing our programs into the clinic – with our joint
goal of bringing new treatment options to patients affected by
cancer and infectious diseases."
"Ocean has an exciting pipeline of innovative treatments from
world-class scientists and a unique business model that was
attractive to us," said Dr. Andrew
Luber, CEO and co-founder of Virion. Luber added, "Both
companies have highly synergistic pipelines and complementary
corporate structures that will benefit each other and should lead
to exciting new treatments in the future. It is rare to find
companies that complement one another so well and have common
goals. We look forward to rolling up our sleeves together and
bringing our novel therapeutics to patients worldwide!"
About VRON-0200
VRON-0200 is a therapeutic immunotherapy, administered by
intramuscular injection, designed with the goal of providing a
functional cure for chronic HBV infection. While the virus itself
stimulates HBV-specific CD8+ T cells, for those patients
that can't clear the initial infection, their T cells soon become
exhausted, placing limits on their ability to proliferate and
control the virus. Preclinical data support the hypothesis
that VRON-0200, through checkpoint modification, can amplify,
broaden, and enhance T cell responses to include T cells that are
not normally activated during a chronic HBV infection, which
results in improved viral control. A multi-national
Phase 1b study in chronically HBV-infected patients is
currently enrolling.
About Ocean Biomedical
Ocean Biomedical, Inc. is a Providence, Rhode Island-based biopharma
company with an innovative business model that accelerates the
development and commercialization of scientifically compelling
assets from research universities and medical centers. Ocean
Biomedical deploys the funding and expertise to move new
therapeutic candidates efficiently from the laboratory to the
clinic to the world. Ocean Biomedical is currently developing five
promising discoveries that have the potential to achieve
life-changing outcomes in lung cancer, brain cancer, pulmonary
fibrosis, and the prevention and treatment of malaria. The Ocean
Biomedical team is working on solving some of the world's toughest
problems, for the people who need it most.
To learn more, visit www.oceanbiomedical.com.
About Virion Therapeutics (Virion)
Virion Therapeutics, LLC is a clinical-stage company developing
novel T cell-based immunotherapies to cure cancer and chronic
infectious diseases that utilize proprietary genetically encoded
checkpoint modifiers (CPMs) to enhance and broaden CD8+
T cell responses to a tumor or chronic infection. Founded in early
2018 to advance technology licensed from The Wistar Institute,
an international leader in biomedical research with special
expertise in vaccine, cancer and infectious disease research.
Virion has a robust pipeline, including its lead VRON-0200 clinical
program, and several additional programs advancing rapidly to human
studies, leveraging its proprietary platform technologies.
To learn more, visit www.VirionTx.com.
Forward-Looking Statements
The information included herein and in any oral statements made
on behalf of Ocean Biomedical, Inc. (the "Company") or otherwise in
connection herewith include "forward-looking statements" within the
meaning of the "safe harbor" provisions of the United States
Private Securities Litigation Reform Act of 1995. Forward-looking
statements may be identified by the use of words such as
"estimate," "plan," "project," "forecast," "intend," "will,"
"expect," "anticipate," "believe," "seek," "target," or other
similar expressions that predict or indicate future events or
trends or that are not statements of historical matters, although
not all forward-looking statements contain such identifying words.
These forward-looking statements include, but are not limited to,
statements regarding estimates and forecasts of financial and
performance metrics and expectations; the expected timing and
success of IND filings for our initial product candidates;
statements regarding the expected timing of our IND-enabling
studies; the frequency and timing of filing additional INDs;
expectations regarding the availability and addition of future
assets to our pipeline; the advantages of any of our pipeline
assets and platforms; the potential benefits of our product
candidates; potential commercial opportunities; the timing of key
milestones for our programs; the future financial condition,
results of operations, business strategy and plans, and objectives
of management for future strategy and operations; and statements
about industry trends and other companies in the industry. These
forward-looking statements are based on various assumptions,
whether or not identified herein, and on the current expectations
of the Company's management, and they are not predictions of actual
performance. These forward-looking statements are provided for
illustrative purposes only and are not intended to serve as, and
must not be relied on by any investor as, a guarantee, an
assurance, a prediction, or a definitive statement of fact or
probability. Actual events and circumstances are difficult or
impossible to predict and will differ from assumptions.
Any discoveries announced by the Company are based solely on
laboratory and animal studies. The Company has not conducted any
studies that show similar efficacy or safety in humans. There can
be no assurances that any treatment tested by the Company will
prove safe or effective in humans, and that any clinical benefits
of any such treatment is subject to clinical trials and ultimate
approval of its use in patients by the FDA. Such approval, if
granted, could be years away.
Forward-looking statements are predictions, projections, and
other statements about future events that are based on current
expectations and assumptions and, as a result, are subject to risks
and uncertainties. These forward-looking statements are not
guarantees of future performance, conditions, or results, and
involve a number of known and unknown risks, uncertainties,
assumptions, and other important factors, many of which are outside
the control of the Company that could cause actual results or
outcomes to differ materially from those discussed in the
forward-looking statements. You should carefully consider the
foregoing factors and the other risks and uncertainties that are
described in the Company's Annual Report on Form 10-K for the year
ended December 31, 2022 and in the
Company's subsequent Quarterly Reports on Form 10-Q and other
documents filed by the Company from time to time with the SEC and
which are and are available at www.sec.gov. These filings
identify and address other important risks and uncertainties that
could cause actual events and results to differ materially from
those contained in the forward-looking statements. Forward-looking
statements speak only as of the date they are made. We do not
undertake any obligation to update any forward-looking statements
made by us. These forward-looking statements should not be relied
upon as representing the Company's assessments as of any date
subsequent to the date of this filing. Accordingly, undue reliance
should not be placed upon the forward-looking statements.
Contacts:
Virion Therapeutics, LLC
Dr. Sue Currie
Chief Operating Officer
scurrie@viriontx.com
Ocean Biomedical Investor Relations
connect@oceanbiomedical.com
Kevin Kertscher
Communications Director
View original content to download
multimedia:https://www.prnewswire.com/news-releases/virion-therapeutics-and-ocean-biomedical-form-joint-venture-supporting-multi-national-first-in-humans-clinical-chronic-hepatitis-b-study-now-enrolling-with-goal-of-a-functional-cure-for-a-disease-affecting-300-million-patients-301954390.html
SOURCE Virion Therapeutics, LLC