SAN DIEGO, August 10, 2017 /PRNewswire/ --
Regen BioPharma Inc. (OTCQB: RGBP) and (OTCQB:
On August 3, 2017 Bristol Myers Squibb (BMS) announced that it had entered into an agreement to acquire IFM Therapeutics, a smaller biotech company focused on developing therapies that modulate novel targets in the innate immune system to treat cancer, autoimmunity and inflammatory disorders. Pursuant to the agreement, IFM Therapeutics is to receive $300 million upfront with the potential of up to an additional $2.02 billion in milestone payments (https://investors.bms.com/iframes/press-releases/press-release-details/2017/Bristol-Myers-Squibb-to-Acquire-IFM-Therapeutics-to-Strengthen-Oncology-Pipeline-Focus-on-Innate-Immunity/default.aspx).
IFM has developed pre-clinical small molecule activators and inhibitors that modulate the immune system. Their small molecules are designed to be used as anti-cancer drugs and against autoimmune disorders.
"While the targets of IFM's small molecules are entirely different from those of Regen's NR2F6 program, the disease programs and the small molecule approach are similar," said Harry Lander, Ph.D., President and Chief Scientific Officer of Regen BioPharma Inc. "It is evident that the need for novel small molecules to attack these diseases is great and that novel targets, like NR2F6, are very important."
"We are probably six months to one year behind the development stage of IFM's program, but we are optimistic our target and compounds will provide similar interest among drug makers in the immune oncology and autoimmunity space," said David Koos, Ph.D., Chairman and CEO of Regen BioPharma Inc.
About Regen BioPharma Inc.:
Regen BioPharma Inc. is a publicly traded biotechnology company (OTCQB: RGBP) and (OTCQB: RGBPP). The Company is focused on the immunology and immunotherapy space. The Company is focused on rapidly advancing novel technologies through pre-clinical and Phase I/II clinical trials. Currently, the Company is focused on small molecule therapies for treating cancer and autoimmune disorders. Additional information on Regen BioPharma is available at http://www.regenbiopharmainc.com.
Disclaimer: This news announcement may contain forward-looking statements. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward looking statements are subject include, but are not limited to, the effect of government regulation, competition and other material risks.
CONTACT INFORMATION Regen BioPharma Inc. David R. Koos, Ph.D. Chairman & Chief Executive Officer +1-619-702-1404 Phone +1-619-330-2328 Fax firstname.lastname@example.org
SOURCE Regen BioPharma, Inc.
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