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Stellar Biotechnologies Inc. announced today that its California subsidiary has been invited to submit a formal application for funding under the National Science Foundation's (NSF) Technology Enhancement for Commercial Partnerships (TECP) program.
If the application is approved, the TECP program will provide financial support for research that will expand the current collaboration between Stellar and Bayer Innovation GmbH (BIG), a subsidiary of pharmaceutical giant, Bayer AG (PINKSHEETS: BAYRY), to include the development of key diagnostic assays.
The prestigious TECP program provides funding for research that is considered critical to the success of strategic partnerships between NSF funded researchers (1) and commercial partners such as Bayer Innovation. Applications to the program are by invitation only and require a letter of intent from the commercial partner for commercial use of the resulting technology.
In the letter of support BIG stated that: "We believe that the approach proposed by Stellar could set a standard, and would add significant value to Stellar's KLH by improving functional characterization. This is expected to translate into better regulatory filings."
BIG is pioneering the development of a proprietary technology for Plant Made Protein (PMP) as a raw material for production of cancer vaccines, and has selected KLH (Keyhole Limpet Hemocyanin) as the carrier protein for use in these therapeutic vaccine products.
Stellar's CEO, Frank Oakes said, "This is valuable research that is necessary to demonstrate consistent potency of the KLH used as a carrier protein in vaccines. Once put in place by Stellar, the technology will set a new industry standard. The National Science Foundation has recognized this need, and the TECP program is an exceptional tool for facilitating industry partnerships for the commercialization of cutting-edge technologies and treatments."
Statements in this press release other than purely historical factual information, including statements relating to revenues or profits, or the Company's future plans and objectives, or expected sales, cash flows, and capital expenditures constitute forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in the technology history. There can be no assurance that such forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on such statements. Except in accordance with applicable securities laws, the Company expressly disclaims any obligation to update any forward-looking statements or forward-looking statements that are incorporated by reference herein. This news release does not constitute an offer to sell, or a solicitation of an offer to buy any of the Company's securities set out herein in the United States, or to, or for the benefit or account of, a U.S. Person or person in the United States. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of these releases.
About Stellar Biotechnologies
About Stellar Biotechnologies, Inc. (TSX-V: KLH) (U.S. OTC: SBOTF) is a world leader in sustainable manufacturing of pharmaceutical grade immune carrier proteins (ICP), particularly with regard to the present most important pharmaceutical protein in this class, KLH (Keyhole Limpet Hemocyanin). This ancient evolutionary protein has a highly complex structure that makes it ideal for use in human and animal vaccines and diagnostic products. With partners and customers, its flagship Stellar KLH products are in the clinic, and on the way to being established as the only sustainable, long-term pharmaceutical source.
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