MABVAX THERAPEUTICS (OTCMKTS:MBVX) announced that it has successfully completed the toxicology testing of its HuMab 5B1 antibody drug. The tests had been carried out by an independent research organization. The tests were carried out over a number of different doses and the drug was found to be safe. The results now validate the company’s statements that the drug would be ready for clinical trials by end of 2015.
Although the company has a pipeline of impressive products, like HuMab 5B1, it is the company’s partnerships that make it more valuable. Mabvax has been involved with companies like Juno to provide delivery mechanisms for their drugs. So the Mabvax does not only develop treatments itself, but grabs shares from the success of other drugs as well.
With Juno, the company had partnered to provide antibodies to serve as target sequences, for the delivery of anti-cancer drugs. As per the partnership agreement, Mabvax will provide the targeting sequences, but Juno reserves the right to negotiate any deals for a license agreement to any therapeutic drugs brought to the market as a result.
Mabvax, had its toxicology tests of HuMab 5B1, conducted on primates, while it waits for approval for the clinical trials. The company also revealed that the drug is targeted at serving as a delivery system for cancer treatments. The clinical trials are to be conducted in two phases. Phase-1 will look at the safety and utility of the drug in cancer patients. While phase-2 would use a radio-labeled genre of the drug for PET imaging agent for diagnostic purposes.
The HuMab 5B1 is just one in a series of drugs that Mabvax has in its pipeline. The company is also focused on developing a number of vaccines for sarcoma and ovarian cancers. However, the chances of the vaccines making an impact on the market seem bleak. Cancer vaccines have a history of not having an impact on the market, even after approvals.
MABVAX THERAPEUTICS (OTCMKTS:MBVX) closed at $2.52, after gaining 5% on May 13. The company has 22.42 million shares being traded in the market, with a 52-week range of $0.83-$16.48.