SOURCE: Lion Biotechnologies, Inc.

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December 20, 2016 16:05 ET

Lion Biotechnologies Announces New Sponsored Research and Clinical Grant Agreements with H. Lee Moffitt Cancer Center and Research Institute

SAN CARLOS, CA--(Marketwired - December 20, 2016) - Lion Biotechnologies, Inc. (NASDAQ: LBIO), a biotechnology company developing novel cancer immunotherapies based on tumor-infiltrating lymphocyte (TIL) technology, announced today that it has entered into a new three-year Sponsored Research Agreement with the H. Lee Moffitt Cancer Center and Research Institute. At the same time, Lion Biotechnologies also announced that it has entered into a Clinical Grant Agreement with the H. Lee Moffitt Cancer Center and Research Institute Hospital (collectively, with the H. Lee Moffitt Cancer Center and Research Institute, "Moffitt") to support an ongoing clinical trial at Moffitt that combines TIL therapy with nivolumab for the treatment of patients with metastatic melanoma.

Maria Fardis, PhD, MBA, Lion Biotechnologies' President and Chief Executive Officer said, "We are very pleased to continue our research collaboration with Moffitt. The first year of research at Moffitt will focus on evaluation of CD4+ T cells as well as NK cells within the TIL cultures in multiple indications under various ex vivo growth conditions. We are also excited to announce today that we will be supporting Moffitt in conducting a melanoma combination trial investigating TIL therapy in conjunction with nivolumab. This is the third study combining TIL plus a checkpoint inhibitor that Lion will have supported."

"Moffitt is a leader in the development and translation of novel therapies for the treatment of melanoma," said James J. Mulé, PhD, Associate Center Director of Translational Science at Moffitt. "This partnership with Lion Biotechnologies will further our institution's efforts to lead the way in providing cutting-edge immunotherapies to cancer patients in Florida and beyond."

The Sponsored Research Agreement will have a three-year term. Areas of research will include an evaluation of the role of individual effector cells in the expansion of TIL from primary solid tumors; the use of toll-like receptor (TLR) ligands in the expansion of TIL from solid tumors; optimal expansion of TIL from various solid tumors and phenotype and function analysis of patient blood and tumor samples from clinical trials.

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.

Forward-Looking Statements

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 the ability of Lion Biotechnologies ("the Company") and/or Moffitt Cancer Center to complete the clinical trials, the results from such clinical trials, and the other risks described in the Company's filings with the Securities and Exchange Commission, including without limitation in its 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.

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