LAGUNA HILLS, Calif., May 31, 2017 (GLOBE NEWSWIRE) — PharmaCyte Biotech, Inc. (OTCQB:PMCB), a clinical stage biotechnology company focused on developing targeted therapies for cancer and diabetes using its signature live-cell encapsulation technology, Cell-in-a-Box®, today announced that its senior management team will attend the 53rd annual meeting of the American Society of Clinical Oncology (ASCO) to be held June 2-6, 2017, at McCormick Place in Chicago. The theme of this year’s meeting is “Making a Difference in Cancer Care with You.”
PharmaCyte’s Chief Executive Officer, Kenneth L. Waggoner, commented, “This year’s annual meeting of ASCO will be our most important as we work towards enrolling the first patient in our planned clinical trial in locally advanced pancreas cancer (LAPC). During this multi-day event, we will be hosting a special meeting of leading clinical oncologists who have expressed interest in participating in our clinical trial. This special meeting is designed to: (i) provide an update on the progress PharmaCyte has made this past year in getting ready for the trial; (ii) provide a timeline for filing the IND and for enrolling the first patient; (iii) make introductions of and allow for comments by key members of PharmaCyte’s Clinical Management Team (Dr. Manuel Hidalgo, Dr. Matthias Löhr, Translational Drug Development (TD2) and Imaging Endpoints, the two major CROs who will be conducting the trial for us); and (iv) gain a commitment from the oncologists and their respective cancer centers to participate in our exciting study.
“Joining me from PharmaCyte will be Dr. Manuel Hidalgo, the Principal Investigator for the trial and a member of our Medical and Scientific Advisory Board, Dr. Matthias Löhr, the Chairman of our Medical and Scientific Advisory Board and the Principal Investigator for the two earlier clinical trials using our pancreas cancer therapy, Dr. Gerald W. Crabtree, our Chief Operating Officer, and Dr. Leonard Makowka, our Senior Strategic Advisor to the Company’s Board of Directors.”
ASCO is one of the largest organizations in the world devoted to the advancement of treatments for all types of cancer. Its annual meeting is one of the largest educational and scientific meetings in the world. It brings together more than 30,000 oncology professionals from around the world to discuss state-of-the-art treatment modalities, new therapies and ongoing controversies in the field. Individuals from around the globe have registered for this year’s meeting with approximately 50% of these from outside the United States. Over 6,000 abstracts of presentations have been submitted for consideration by ASCO. Reports of studies on all types of cancer will be presented during the meeting.
In addition to scientists and clinicians, representatives from large and small pharmaceutical and biotech companies and Contract Research Organizations (CROs), all with an interest in cancer, will be in attendance. ASCO’s annual meeting provides representatives from all areas of the cancer spectrum the opportunity to interact and offers an unparalleled opportunity for the free exchange of information among meeting attendees.
About PharmaCyte Biotech
PharmaCyte Biotech is a clinical stage biotechnology company developing therapies for cancer and diabetes based upon a proprietary cellulose-based live cell encapsulation technology known as “Cell-in-a-Box®.” This technology will be used as a platform upon which therapies for several types of cancer and diabetes are being developed. PharmaCyte’s therapy for cancer involves encapsulating genetically engineered human cells that convert an inactive chemotherapy drug into its active or “cancer-killing” form. These encapsulated cells are implanted as close to the patient’s cancerous tumor as possible. Once implanted, a chemotherapy drug that is normally activated in the liver (ifosfamide) is given intravenously at one-third the normal dose. The ifosfamide is carried by the circulatory system to where the encapsulated cells have been implanted. When the ifosfamide flows through the encapsulated cells, they act as a “bio-artificial liver” and activate the chemotherapy drug at the site of the cancer. This “targeted chemotherapy” has proven effective and safe to use in past clinical trials and results in no treatment related side effects.
In addition to developing a novel therapy for cancer, PharmaCyte is developing a therapy for Type 1 diabetes and insulin-dependent Type 2 diabetes. PharmaCyte plans to encapsulate a human cell line that has been genetically engineered to produce, store and release insulin in response to the levels of blood sugar in the human body. The encapsulation will be done using the Cell-in-a-Box® technology. Once the encapsulated cells are implanted in a diabetic patient they will function as a “bio-artificial pancreas” for purposes of insulin production.
This press release contains forward-looking statements, which are generally statements that are not historical facts. Forward-looking statements can be identified by the words “expects,” “anticipates,” “believes,” “intends,” “estimates,” “plans,” “will,” “outlook” and similar expressions. Forward-looking statements are based on management’s current plans, estimates, assumptions and projections, and speak only as of the date they are made. We undertake no obligation to update any forward-looking statement because of new information or future events, except as otherwise required by law. Forward-looking statements involve inherent risks and uncertainties, most of which are difficult to predict and are generally beyond our control. Actual results or outcomes may differ materially from those implied by the forward-looking statements due to the impact of numerous risk factors, many of which are discussed in more detail in our Annual Report on Form 10-K and our other reports filed with the Securities and Exchange Commission.
More information about PharmaCyte Biotech can be found at www.PharmaCyte.com. Information may also be obtained by contacting PharmaCyte’s Investor Relations Department.
Contact: Investor Relations: PharmaCyte Biotech, Inc. Investor Relations Department Telephone: 917.595.2856 Email: Info@PharmaCyte.com