SOURCE: TapImmune Inc.

June 09, 2008 09:00 ET

TapImmune Announces Execution of Exclusive Option Agreement With The University of British Columbia

Additional Technologies Strengthen Pipeline

VANCOUVER, BC--(Marketwire - June 9, 2008) - TapImmune Inc. (OTCBB: TPIM), a biotechnology company specializing in the development of immunotherapeutics for cancer and vaccines for infectious diseases, today announced that the company has executed an exclusive option agreement with The University of British Columbia (UBC) for three follow on technologies related to the original TAP-technology acquired by the company from UBC on May 31, 2007.

"We are very pleased to be able to continue to strengthen our pipeline of technologies and our IP position around our key TAP technologies," said Denis Corin, CEO of TapImmune Inc.

Under the agreement, TapImmune has the option to acquire three follow-on technologies developed at UBC that fall under the scope of the original acquisition completed last year. These technologies broaden the scope and pipeline of products the company intends to develop around its core TAP molecule based vaccines.

About TapImmune

TapImmune is a biotechnology company specializing in the development of innovative therapeutics and vaccines in the areas of oncology and infectious disease. The company's lead product, TAP vaccine, performs a key step in moving characteristic markers called antigens to the surfaces of cells. TAP, or Transporters Associated with Antigen Processing, are proteins responsible for supplying tumor-associated antigens (markers) and viral antigens to the surface of infected cells. Without TAP, there are no cancer markers, so the immune system fails to spot the rogue cells and the cancerous cells can grow undetected.

The Company's vaccine has shown, in preclinical tests, effective restoration of TAP which restores and augments the marker (antigen) presentation and subsequent recognition and killing of cancer cells by the immune system. The TAP molecule also works as an adjuvant or 'accelerant' to enhance targeted vaccines against infectious diseases. The global vaccine market is expected to grow from $13 billion in 2007 to $21 billion in 2010.

TapImmune is preparing GLP manufactured materials for the commencement of toxicology studies on the AdhTAP vaccine, leading to the initiation of a Phase I clinical trial. The Company is also developing a TAP-based vaccine adjuvant which existing preclinical data suggest increases the efficacy of targeted prophylactic vaccines by up to 1000 times.

Additional information on the Company can be found on its web site www.TapImmune.com

Safe Harbor Statement

This release contains forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995. Statements in this news release concerning the Company's expectations, plans, business outlook or future performance, and any other statements concerning assumptions made or expectations as to any future events, conditions, performance or other matters, are "forward-looking statements." Forward-looking statements are by their nature subject to risks, uncertainties and other factors which could cause actual results to differ materially from those stored in such statements. Such risks, uncertainties and factors include, but are not limited to the risks set forth in the Company's most recent Form 10-KSB and other SEC filings which are available through EDGAR at www.sec.gov. These are among the primary risks we foresee at the present time. The Company assumes no obligation to update the forward-looking statements.

Contact Information

  • Contact:
    Investor Relations
    Bob Smylie
    TapImmune Inc.
    1 866 689 8274