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ImmunoTherapeutics Receives Option for Oral Drug Delivery Technology
Business Wire, August 29, 1996
FARGO, N.D.--(BUSINESS WIRE)--Aug. 29, 1996-- ImmunoTherapeutics, Inc. (OTC Bulletin Board: IMNP) today announced the receipt of an option agreement from the Massachusetts Institute of Technology ("MIT"). Under the agreement, ImmunoTherapeutics has an exclusive opportunity to negotiate a license to patent applications relating to the use of polymerized liposomes for the oral delivery of pharmaceutical agents and vaccines. The technology was developed by Dr. Robert S. Langer, Professor of Chemical and Biomedical Engineering at MIT. The option agreement was assigned to the Company by Paramount Capital Investments, LLC, an affiliate of The Aries Funds.
The option agreement grants ImmunoTherapeutics an exclusive right, for a limited period of time, to negotiate a definitive licensing agreement with MIT. Neither party, however, is obligated to enter into any such licensing agreement. ImmunoTherapeutics, Inc. is a biotechnology company involved in the research, development and clinical evaluation of immunopharmaceuticals for the prevention and treatment of cancer and infectious diseases. The company was founded in 1985 to develop synthetic and natural products that activate and/or enhance the immune system, either directly or through the induction of biologically active mediators.
CONTACT: Mary Ann Dunnell
212-484-7797
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