NORTH BRUNSWICK, N.J.--(BUSINESS WIRE)-- Advaxis, Inc., (OTCBB: ADXS), the live, attenuated Listeria monocytogenes (Lm) vaccine company, has received $379,742 from the sale of certain net operating loss carryovers from prior years through the 2010 Technology Business Tax Certificate Program sponsored by the New Jersey Economic Development Authority (NJEDA).
“Advaxis has been the recipient of this non-dilutive financing program several times over the past few years,” said Chairman/CEO Thomas A. Moore. “This innovative program provided by the State of New Jersey is very supportive and enables us to make use of an otherwise unused asset to fund the development of our technology.”
Over the past three months, the Company has received a total of $624,221 in non-dilutive financing.
About the NJ Economic Development Authority
The NJEDA is a state financing and development agency that works to strengthen New Jersey’s economy by retaining and growing businesses through financial assistance, by renewing communities, and by promoting the State’s strategic advantages to attract domestic and international business. To learn more about opportunities for business growth throughout New Jersey, visit the State’s business portal at www.newjerseybusiness.gov.
About Advaxis, Inc.
Advaxis is a biotechnology company developing proprietary, live but attenuated Listeria monocytogenes (Listeria) vaccines that deliver engineered tumor antigens, which stimulate multiple, simultaneous immunological mechanisms to fight cancer. Our platform technology was developed by The University of Pennsylvania . Today, the Company has nine (9) distinct, cancer-fighting constructs in various stages of development, directly and through strategic collaborations with such recognized sites of excellence as the City of Hope, the Roswell Park Cancer Institute, the National Cancer Institute, the University of Pittsburgh, Cancer Research – UK, the University of British Columbia and the Department of Homeland Security. Please visit the Company’s portals: advaxis.com | facebook | twitter | LinkedIn
Certain statements contained in this press release are forward-looking statements that involve risks and uncertainties. The statements contained herein that are not purely historical are forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements deal with the Company’s current plans, intentions, beliefs and expectations and statements of future economic performance. Forward-looking statements involve known and unknown risks and uncertainties that may cause the Company's actual results in future periods to differ materially from what is currently anticipated. Factors that could cause or contribute to such differences include those discussed from time to time in reports filed by the Company with the Securities and Exchange Commission. The Company cannot guarantee its future results, levels of activity, performance or achievements.
KEYWORDS: United States North America New Jersey
INDUSTRY KEYWORDS: Health Biotechnology Oncology Research Science