17th Apr 2020 06:56
(Alliance News) - NetScientific PLC on Thursday said its portfolio company PDS Biotechnology Corp has initiated a vaccine development program for Covid-19 and universal influenza.
Shares in NetScientific more than doubled following the news on Thursday and closed at 15.30 pence each in London. The company owns around a 7% stake in PDS Biotechnology.
The UK-listed healthcare intellectual property commercialisation company also said that PDS Biotechnology has delayed its phase 2 trial for PDS0101 in advanced metastatic head and neck cancer due to the impact on clinical trial operations from the Covid-19 pandemic.
PDS Biotech's products combine its Versamune technology with custom-designed, disease-specific proteins to induce both neutralizing antibody and killer T-cell responses, which when co-induced are more powerful in fighting disease than either alone.
In a previous phase one trial of PDS0101, Versamune was confirmed to lead to regression of disease.
"The potency and versatility of the proprietary Versamune T-cell activating platform makes it possible for PDS Biotech to immediately start development of novel vaccines to protect against infectious disease agents with pandemic potential, starting with COVID-19 and influenza," explained Frank Bedu-Addo, chief executive officer of PDS Biotech.
By Tapan Panchal; [email protected]
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