PROVIDENCE, R.I., Oct. 12, 2023 (GLOBE NEWSWIRE) — Ocean Biomedical, Inc. (Nasdaq:OCEA) is a biopharmaceutical company dedicated to accelerating the development of compelling discoveries by leading research scientists, and Virion Therapeutics LLCarrive clinical stage biotechnology company develop Novel T cell-based immunotherapyannounced today that they have formed a joint venture to accelerate and expand Virion’s clinical-stage programs and pipeline, Targeting the search for treatments for patients with cancer and chronic infectious diseases.
Villian has started Participate in a multinational, first-in-human study, “VRON-0200″, used to treat people with Chronic hepatitis B virus (HBV) infectionthe goal is to provide Functional cures for diseases affecting more than 300 million patients worldwide.In addition, Virion also IND support activities for oncology programs are ongoing.
The pipeline builds on a novel class of immunomodulators, specifically Virion’s proprietary genetically encoded checkpoint modifiers (CPMs), which have been shown to enhance and broaden CD8+ T cells, have generated unprecedented immune responses and clinical activity in multiple animal models of different diseases.
The ocean is realizing its potential Immunotherapy for lung, brain, and other cancers by targeting chitinase 3-like-1 (CHi3L1) expression has monospecific and bispecific antibodies and has additional development programs in fibrosis and the treatment and prevention of malaria.
“We are delighted to enter into our joint venture with Virion. Altering T-cell activation to significantly improve immune responses and subsequent treatment outcomes is a highly innovative and exciting new technology with broad potential in cancer and chronic infectious diseases use.” Dr. Chirinjeev Kathuria, Executive Chairman and Co-Founder, Ocean. “We are impressed with Virion’s clinical development expertise and their ability to advance their lead VRON-0200 chronic HBV program into clinical trials and look forward to seeing the first clinical data from this program in the coming months. We are also are excited to help support their oncology program, which is targeting IND submission within the next nine months. We believe there are tremendous synergies between the two companies and Ocean’s team and enterprise infrastructure can help Virion accelerate its development program, and Virion can assist Ocean in advancing our programs into the clinic – our shared goal is to bring new treatment options to patients” affected by cancer and infectious diseases. “
“Ocean has an exciting pipeline of innovative therapies from world-class scientists and a unique business model that is attractive to us,” he said. Virion CEO and Co-Founder Dr. Andrew Luber. Luber added: “Both companies have highly synergistic product pipelines and complementary corporate structures that will benefit each other and should lead to exciting new therapies in the future. Few companies are so complementary and share a common goal. “We look forward to rolling up our sleeves and working together to bring our novel therapies to patients around the world! “
About VRON-0200
VRON-0200 is a therapeutic immunotherapy administered via intramuscular injection designed to provide functional cure for chronic hepatitis B virus infection. Although the virus itself stimulates HBV-specific CD8+ T cells, for patients who are unable to clear the initial infection, their T cells quickly become depleted, limiting their ability to proliferate and control the virus. Preclinical data support the hypothesis that VRON-0200, through checkpoint modification, can amplify, expand, and enhance T cell responses to include T cells that are not normally activated during chronic HBV infection, thereby improving viral control. A multinational phase 1b study in patients with chronic HBV infection is currently recruiting.
About marine biomedicine
Ocean Biomedical, Inc. is a Providence, Rhode Island-based biopharmaceutical company whose innovative business model accelerates the development and commercialization of scientifically compelling assets at research universities and medical centers. Marine Biomedicine leverages funding and expertise to efficiently move new treatment candidates from the laboratory to the clinic and into the world. Ocean Biomedical is currently developing five promising discoveries that have the potential to deliver life-changing results in the prevention and treatment of lung cancer, brain cancer, pulmonary fibrosis, and malaria. Marine biomedical teams are working to solve some of the world’s toughest problems for the people who need help 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 treat cancer and chronic infectious diseases utilizing proprietary genetically encoded checkpoint modifiers (CPMs) to enhance and expand CD8+ T cell responses to tumors or chronic infections. Established in early 2018 to advance technologies licensed from the Wistar Institute, an international leader in biomedical research with special expertise in vaccines, cancer and infectious disease research. Virion has a strong pipeline, including its leading clinical program with VRON-0200, as well as several additional programs leveraging its proprietary platform technology to rapidly advance human studies.
To learn more, visit www.VirionTx.com.
forward-looking statements
The information contained herein and any oral statements made on behalf of Ocean Biomedical, Inc. (the “Company”) or other information relating thereto include “forward-looking statements” within the meaning of the U.S. Safe Harbor provisions of 1995 Private Securities Litigation Reform Act of the Year. Forward-looking statements can be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect” and other words. The words “anticipate,” “believe,” “seek,” “target” or other similar expressions predict or indicate future events or trends or are statements that are not historical events, although not all forward-looking statements contain such identifying words. These forward-looking statements include, but are not limited to, statements regarding estimates and projections 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 filing of additional INDs frequency and timing; expectations regarding the availability of future assets and additions to our pipeline; the strengths of any of our pipeline assets and platforms; the potential benefits of our product candidates; potential commercial opportunities; the timing of key milestones in our plans; the future our financial condition, results of operations, business strategies and plans, and management’s objectives for future strategies and operations; and statements regarding industry trends and other companies in the industry. These forward-looking statements are based on various assumptions (whether or not identified herein) and the current expectations of the Company’s management and are not predictions of current performance. These forward-looking statements are for illustrative purposes only and are not intended to be, and shall not be relied upon by, any investor as a guarantee, guarantee, prediction or express statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from those hypothesized.
Any findings announced by the company are based solely on laboratory and animal studies. The company has not conducted any studies showing similar efficacy or safety in humans. There is no guarantee that any treatment tested by the Company will prove safe or effective in humans, and any clinical benefit from any such treatment is subject to clinical trials and final FDA approval for use in patients. If approved, it 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 therefore involve 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 beyond the company’s control, that may cause current circumstances to Results or results could differ materially from those discussed in the forward-looking statements. You should carefully consider the above factors and other risks and uncertainties described in the company’s Annual Report on Form 10-K for the year ended December 31, 2022 and the company’s subsequent quarterly reports on Form 10-Q and other filings. The Company files reports with the SEC from time to time, which are available at www.sec.gov. These documents 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 undertake no obligation to update any forward-looking statements we make. These forward-looking statements should not be relied upon as representing the Company’s assessment as of any date subsequent to the date of this press release. Therefore, undue reliance should not be placed on forward-looking statements.
Contact information:
Virion Therapeutics LLC
Dr. Sue Currie
chief operating officer
scurrie@viriontx.com
Marine Biopharmaceutical Investor Relations
connect@oceanbiomedical.com
Kevin Kercher
communications director
