Please do not leave this page until complete. This can take a few moments.
Marlborough startup biotech Phio Pharmaceuticals will collaborate with a Dutch company to develop immunotherapies for cancer treatment.
The research collaboration between the company and Glycostem Therapeutics BV will explore the potential synergies in the company’s RNAi technology and Glycostem’s Natural Killer-cell generation technology.
Teams for each company will work to see if the Phio’s sd-rxRNA technology can help the production of Natural Killer cells with the ultimate goal of improving Glycostem’s cellular immunotherapies in cancer patients.
Phio has been seeking this kind of collaboration agreement since last year, when it announced it was reorganizing to focus on cancer treatment platforms and market its other businesses, like its dermatology unit.
In a statement, Phio CEO Gerrit Dispersyn said the company looks forward to partnering wit a leading cellular immunotherapy firm.
“Glycostem’s focus on safe and cost-effective allogeneic approaches with the promise of providing off-the-shelf cellular products very much aligns with our vision on the use of innovative technology to create a next generation of very powerful adoptive cell therapies against various cancers,” Dispersyn said.
The news sent the company’s stock up more than 8 percent Thursday morning, thought it remains under 47 cents per share.
The company had virtually no sources of revenue for 2018, reporting $138,000 in revenues last year, according to financial results released Wednesday.
Cash on hand, however, was $14.9 million, which the company said provides runway into the second half of 2020.
Stay connected! Every business day, WBJ Daily Report will be delivered to your inbox by noon. It provides a daily update of the area’s most important business news.
Sign upWorcester Business Journal provides the top coverage of news, trends, data, politics and personalities of the Central Mass business community. Get the news and information you need from the award-winning writers at WBJ. Don’t miss out - subscribe today.
SubscribeWorcester Business Journal presents a special commemorative edition celebrating the 300th anniversary of the city of Worcester. This landmark publication covers the city and region’s rich history of growth and innovation.
See Digital EditionStay connected! Every business day, WBJ Daily Report will be delivered to your inbox by noon. It provides a daily update of the area’s most important business news.
Worcester Business Journal provides the top coverage of news, trends, data, politics and personalities of the Central Mass business community. Get the news and information you need from the award-winning writers at WBJ. Don’t miss out - subscribe today.
Worcester Business Journal presents a special commemorative edition celebrating the 300th anniversary of the city of Worcester. This landmark publication covers the city and region’s rich history of growth and innovation.
In order to use this feature, we need some information from you. You can also login or register for a free account.
By clicking submit you are agreeing to our cookie usage and Privacy Policy
Already have an account? Login
Already have an account? Login
Want to create an account? Register
In order to use this feature, we need some information from you. You can also login or register for a free account.
By clicking submit you are agreeing to our cookie usage and Privacy Policy
Already have an account? Login
Already have an account? Login
Want to create an account? Register
This website uses cookies to ensure you get the best experience on our website. Our privacy policy
To ensure the best experience on our website, articles cannot be read without allowing cookies. Please allow cookies to continue reading. Our privacy policy
0 Comments