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Western Oncolytics Awarded SBIR Grant to Fund the Company's Next Generation Oncolytic Virus Therapy
PITTSBURGH, May 21, 2019 /PRNewswire/ -- Western Oncolytics (WO), a privately held biotechnology company focused on the discovery and development of next generation oncolytic vaccinia virus immunotherapies announced that it was awarded a Small Business Innovation Research (SBIR) Grant. SBIR grants are coordinated by the Small Business Administration of the U.S. Government and require candidates to undergo a rigorous approval process.
"Given that we believe this was highly competitive, we are very pleased to have been awarded this grant, which will be applied toward advancing our lead clinical candidate, WO-VET-S3, into the clinic," stated Stephen H. Thorne, Ph.D., WO's founder and chief scientific officer. "This award validates both the novelty and the clinical potential of this therapeutic approach."
About the Multi-Mechanistic VET Platform Strategy
Oncolytic virus development has progressed from basic deletions for conditional tumor replication to multiple modifications acting in various mechanisms to enhance efficacy. WO's proprietary platform, VET (vaccinia-enhanced template), incorporates multiple modifications to enhance tumor selectivity, systemic delivery, replication potency and antitumor immunity. WO-VET-S3, derived from the VET platform, expresses a STAT3 inhibitor. STAT3, an important immune suppressor and regulator of tumor growth and metastases, is found to be overactive in many cancers and is known to be a strong predictor of poor prognosis. WO expects to initiate clinical studies for WO-VET-S3 in 2020.
About Western Oncolytics
Western Oncolytics, a privately held biotechnology company, is developing a new generation of optimized, multi-mechanistic cancer immunotherapies. The company's oncolytic vaccinia virus immunotherapies are designed with proprietary, synergistic combinations of genetic modifications to systemically target and destroy cancer cells while enhancing patients' anti-tumor immune response. Western Oncolytics is committed to creating a best-in-class immuno-oncology platform to help patients across the globe beat cancer. For additional information, please visit www.westernoncolytics.com.
Cook Williams Communications, Inc.
Investor and Media Relations
SOURCE Western Oncolytics