Gufic Biosciences enters into research collaboration with Selvax Pty Ltd

Gufic Biosciences Limited ("Gufic") is pleased to announce that it is entering into a research and collaboration agreement with M/s. Selvax Pty Ltd ("Selvax"), a biotechnology Company based in Perth, Western Australia, to accelerate the commercialization of Selvax's cancer immunotherapy treatment. M/s. Orbit Financial Capital, a boutique investment banking firm with a strong foothold in corporate finance, transaction advisory services, and debt syndication services, acts as the exclusive financial advisor to the transaction.

Under this initiative, Gufic will undertake mutually agreed development activities in return for the exclusive commercial rights for Selvax immunotherapy in India along with an equal share of future revenues that might be derived from future sales of the product in Europe, subject to the approvals received from the regulatory authorities in India and Europe, respectively.

Selvax's goal is to develop a safe, effective and immunological-based treatments for a range of hard-to-treat solid tumours. It was formed following a breakthrough in cancer research where researchers at Curtin University West Australia, came to understand the sophisticated methods used by tumours to evade the body's immune system. This has allowed the research team of Selvax to develop a selfvaccine approach where the body's immune system is harnessed rather than hindered in treating cancer.

A major advantage of the Selvax technology is that it targets the tumour microenvironment in cancer cells and stimulates an immune response. This allows the technology to overcome major challenges previously faced with other cancer immunotherapies including poor response rates and potentially serious toxicity. It is envisaged that the successful development of the technology will provide novel cancer treatments for animals and humans.

Selvax considers Gufic as an ideal collaboration partner on account of Gufic's long track record of innovation and new drug development. Gufic continues its efforts to bring innovation in the medical field by expanding its portfolio in cancer immunotherapy, which is one of the most rapidly growing segments of the global pharmaceutical market.

Shares of Gufic Biosciences Limited was last trading in BSE at Rs. 222.90 as compared to the previous close of Rs. 210.85. The total number of shares traded during the day was 22456 in over 1065 trades.

The stock hit an intraday high of Rs. 225.00 and intraday low of 211.95. The net turnover during the day was Rs. 4928623.00.

Source : Equity Bulls

Keywords

GuficBiosciences INE742B01025 Research Collaboration SelvaxPty Australia CancerImmunotherapyTreatment