SAN CARLOS, CA--(Marketwired - November 28, 2016) - Lion Biotechnologies, Inc. (NASDAQ: LBIO), a biotechnology company developing novel cancer immunotherapies based on tumor-infiltrating lymphocyte technology (TIL), announced today that it has entered into a new three-year Manufacturing Services Agreement (MSA) and related statements of work with WuXi AppTec, Inc. (WuXi AppTec) to manufacture and perform services related to the manufacture of the Company's autologous cell therapy products.
"During 2017, we intend to expand our clinical program utilizing TIL for treatment of solid tumors. The new MSA with WuXi AppTec, and related statements of work, will increase Lion's manufacturing capacity which is a key step in expanding into multiple clinical indications. We will utilize suites with late-stage clinical and commercial capacity dedicated to our TIL program," said Maria Fardis, PhD, MBA, Lion Biotechnologies President and Chief Executive Officer. "We have expanded upon an existing relationship with Wuxi and will be increasing throughput with this new MSA."
Felix Hsu, Senior Vice President for WuXi AppTec's U.S. Business Unit commented, "We are very pleased that our cell therapy manufacturing, analytical and quality teams will continue to support development and manufacturing of this exciting therapy platform. The fact that our major expansion in late stage clinical and commercial manufacturing facilities could someday facilitate the introduction of effective treatments for solid tumors is exciting."
About Lion Biotechnologies, Inc.
Lion Biotechnologies, Inc. is a clinical-stage biotechnology company focused on the development of cancer immunotherapy products for the treatment of various cancers. The Company's lead product candidate is an adoptive cell therapy using tumor-infiltrating lymphocytes (TIL) for the treatment of patients with refractory metastatic melanoma. TIL therapy is also being evaluated in clinical trials at the National Cancer Institute and Moffitt Cancer Center. For more information, please visit http://www.lionbio.com.
This press release contains certain forward-looking statements for purposes of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that are subject to a number of risks and uncertainties, including risks related to the Company's ability to increase its manufacturing capacity and throughput, its ability to expand into multiple clinical indications, and other risks described in the Company's most recently filed quarterly report on Form 10-Q and annual report on Form 10-K. Any forward-looking statements that the Company makes in this press release speak only as of the date of this press release. Except as required by law, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.