Bio-Matrix Scientific Group and Entest BioMedical Finalizes New Immuno-therapeutic Cancer Vaccine Joint Venture with Therinject
Initial Market to Be Veterinary Medicine -- $60 Million Potential over 5 Years
SAN DIEGO--(BUSINESS WIRE)--Bio-Matrix Scientific Group, Inc. (OTCBB: BMSN) and Its majority owned subsidiary Entest BioMedical Inc. (OTCBB: ENTB) announced today they have finalized a definitive agreement with Therinject LLC for the development of a new immuno-therapeutic cancer vaccine. Therinject LLC is engaged in the development of cancer treatments utilizing immunology based approaches.
It is anticipated that BMSN's facilities and infrastructure will be utilized by both parties for the development of immuno-therapeutic treatments for cancer. Initially, BMSN and Therinject intend to focus on the veterinary market, looking to treat animals with tumors while gathering data in support of human clinical trials.
Bio-Matrix Chairman & CEO David Koos stated, "Cancer is the #1 cause of death among dogs. It's estimated that 1 out of every 3 dogs will get cancer. We anticipate this immuno-therapeutic cancer vaccine could have an efficacy rate of as high as 60% where 15% to 20% is the current cure rate. We believe that during the first year this immuno-therapeutic vaccine is available we will treat roughly 2,000 animals resulting in $3,000 revenue per animal or $6 million in first year revenue from veterinary medical applications. The Company anticipates a market niche over the subsequent 5 years of 40,000 animals being treated. This is before we expand to human clinical trials."
Therinject's Chief Scientific Officer, Steven Josephs, Ph.D. said that, "For many cancers, efficacy rates should be much higher than currently available therapies. Immuno-therapy stimulates the body's own immune system to engage in the treatment process. The development of an anti-cancer immune response would be very effective in dealing with metastatic tumors especially in cases where surgery would no longer be feasible."
Additionally, Therinject will work with Entest BioMedical's team to develop intellectual property in this area of cancer treatment , which is anticipated to result in patents being applied for by Entest BioMedical Inc. (OTCBB: ENTB), a majority owned subsidiary of BMSN.
Entest believes the technology to be developed has potential for uses beyond the initial applications.
About Bio-Matrix Scientific Group
Bio-Matrix Scientific Group Inc. (OTCBB: BMSN) is a biotech research and development company headquartered in San Diego, Ca. with a 15,000 sq. ft. facility that houses two secure cryogenic stem cell banks, three research laboratories, aseptic cellular/tissue class 10,000/100 processing lab, hematology, microbiology and flow cytometry laboratories.
www.BMSN.us
Follow the Company's progress on Twitter: http://twitter.com/BMSN1.
About Entest BioMedical Inc.:
Entest BioMedical Inc. (OTCBB: ENTB) is a majority owned subsidiary of Bio-Matrix Scientific Group Inc. The Company is involved with the development of testing procedures for diabetes, cancer treatment, stem cell research applications for diabetes and other illnesses. The Company also is involved with medical device development (including stem cell extraction instrumentation). Entest BioMedical website is
www.EntestBio.com.
Disclaimer
This news release may contain forward-looking statements. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, the effect of government regulation, competition and other material risks