Market Overview

Anixa Bioscience's Deal With Cleveland Clinic Sends Shares Higher

Share:
Anixa Bioscience's Deal With Cleveland Clinic Sends Shares Higher

Anixa Biosciences Inc (NASDAQ: ANIX) shares were trading higher Wednesday after the company announced a licensing agreement with the Cleveland Clinic for breast cancer vaccine technology.

Cleveland Clinic researcher Dr. Vincent Tuohy said in a statement that he has identified a specific protein that is "retired" from service after a woman has given birth, but reappears in many forms of breast cancer, especially TNBC.

His studies have shown that vaccinating against this protein completely prevents breast cancer in mice, according to a Wednesday press release. 

Tuohy and Cleveland Clinic were awarded a $6.2-million grant from the Department of Defense in November 2017 to provide funding for the completion of pre-clinical studies as well as the completion of two Phase 1 clinical studies to test the vaccine in patients.

Anixa Biosciences said it will work with Tuohy and a team at Cleveland Clinic to advance the vaccine to clinical trials in humans to verify the animal studies that demonstrated prevention of breast cancer.

Anixa Biosciences shares were trading up 18.64% at $4.90 at the time of publication Wednesday. 

Related Links:

Cancer Genetics Sharply Higher After Interpace Buys Biopharma Unit

Neon Therapeutics Shares Higher After Positive Cancer Vaccine Study

Photo by Cleveland Clinic via Wikimedia

Posted-In: breast cancer Cleveland ClinicNews Health Care General Best of Benzinga

 

Related Articles (ANIX)

View Comments and Join the Discussion!
Fastest Market News Application
You'll Hear It First On Pro
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

'Algorithms Manage Everything': One Israeli Company's Mission To Make Marijuana Growing Effortless

Apparently, Some Traders Are Nervous About Bank Earnings