Heat Biologics Announces Groundbreaking for New San Antonio Facility
August 09 2021 - 7:30AM
Heat Biologics, Inc. (“Heat”)
(NASDAQ: HTBX), a clinical-stage
biopharmaceutical company focused on developing first-in-class
therapies to modulate the immune system, today announced it will be
hosting a groundbreaking ceremony for the launch of its new planned
San Antonio biomanufacturing/bioanalytic facility. The Company also
announced it has received approval for an estimated $1.0 million in
tax abatements from the City of San Antonio and Bexar County.
The opening ceremony will be streamed live at
11AM ET /10AM CT today, at:
https://www.facebook.com/GreaterSATX/
The Company’s wholly owned subsidiary, Scorpion
Biological Services, plans to build a large molecule bioanalytical
research and manufacturing facility in San Antonio. Anticipated
activities include the development of in-house immuno-assays and
biomarkers, a Good Laboratory Practice (GLP) and Good Clinical
Practice (GCP) laboratory, and cGMP manufacturing capabilities.
Jeff Wolf, Chief Executive Officer of Heat
Biologics, commented, “We appreciate the tremendous support from
the San Antonio community as we expand our biomanufacturing and
bioanalytic capabilities. We expect this facility to
shorten our development and manufacturing timelines and reduce
costs for these services which we would have otherwise outsourced
to third-party contractors. In addition to supporting our own
internal operations, we plan to leverage these capabilities to
support other biopharma companies.”
“Our diverse medical and bioscience community
has come together to form an ecosystem that’s cooperative and
supportive — one that drives innovation to improve lives — and
that’s attractive to startups, established corporations, and
talent. We are committed to supporting Scorpion as they grow their
operations in our community,” said San Antonio Mayor Ron
Nirenberg.
About Scorpion Biological Services,
Inc.Scorpion Biological Services, Inc. is working to
expand the reach of precision medicine to more people within
multiple therapeutic areas that are untreatable or
treatment-resistant today. Its team is comprised of renowned
experts in bioanalytics, cell biology, virology, translational
biology, biomanufacturing, and drug development. Scorpion’s new
facility is expected to be able to support a myriad of biologic
drugs from conception through clinical trials and beyond, to bring
new drugs to market faster and more reliably.
About Heat Biologics, Inc.Heat
Biologics is a biopharmaceutical company focused on developing
first-in-class therapies to modulate the immune system. Heat’s gp96
platform is designed to activate immune responses against cancer or
infectious diseases. The Company has multiple product candidates in
development leveraging the gp96 platform, including HS-110, which
has completed enrollment in its Phase 2 trial, various infectious
disease programs in preclinical development and a pipeline of
proprietary immunomodulatory antibodies and cell-based therapies,
including PTX-35 and HS-130 in Phase 1 clinical trials.
For more information, please
visit: www.heatbio.com, and also follow us
on Twitter.
Forward Looking StatementThis
press release includes forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995 on
our current expectations and projections about future events. In
some cases, forward-looking statements can be identified by
terminology such as "may," "should," "potential," "continue,"
"expects," "anticipates," "intends," "plans," "believes,"
"estimates," and similar expressions. These statements are based
upon current beliefs, expectation, and assumptions and include
statements regarding plans of Scorpion Biological Services to build
a large molecule bioanalytical research and manufacturing facility
in San Antonio, anticipated activities including the development of
in-house immuno-assays and biomarkers, a Good Laboratory Practice
(GLP) and Good Clinical Practice (GCP) laboratory, and cGMP
manufacturing capabilities, the facility shortening Heat’s
development and manufacturing and reducing costs for services Heat
would have otherwise outsourced to third-party contractors,
leveraging the facilities capabilities to support the activities of
other biopharma companies and the new facility being able to
support a myriad of biologic drugs from conception through to
clinical trials and beyond, to bring new drugs to market faster and
more reliably. These statements are subject to a number of risks
and uncertainties, many of which are difficult to predict,
including the ability to build a facility with capabilities to
develop in-house immuno-assays and biomarkers, a Good Laboratory
Practice (GLP) and Good Clinical Practice (GCP) laboratory, and
cGMP manufacturing capabilities, the ability of the facility to
shorten Heat’s development and manufacturing and reduce costs for
services Heat would have otherwise outsourced to third-party
contractors and the ability to leverage the facilities capabilities
to support the activities of other biopharma companies, including a
myriad of biologic drugs from conception through to clinical trials
and beyond, to bring new drugs to market faster and more reliably,
the ability of Heat's vaccine platform to provide prevention and
treatment of cancer and infectious diseases, such as COVID-19, the
ability of Heat's therapies to perform as designed, to demonstrate
safety and efficacy, as well as results that are consistent with
prior results, the ability to enroll patients and complete the
clinical trials on time and achieve desired results and benefits,
especially in light of COVID-19, Heat's ability to obtain
regulatory approvals for commercialization of product candidates or
to comply with ongoing regulatory requirements, regulatory
limitations relating to Heat's ability to promote or commercialize
its product candidates for specific indications, acceptance of its
product candidates in the marketplace and the successful
development, marketing or sale of products, Heat's ability to
maintain its license agreements, the continued maintenance and
growth of its patent estate, its ability to establish and maintain
collaborations, its ability to obtain or maintain the capital or
grants necessary to fund its research and development activities
and its cash and short-term investments providing significant
runway to fund Heat’s current clinical programs and further expand
Heat’s therapeutic portfolio , its ability to continue to maintain
its listing on the Nasdaq Capital Market and its ability to retain
its key scientists or management personnel, and the other factors
described in Heat's annual report on Form 10-K for the year ended
December 31, 2020 filed with the SEC, and other subsequent filings
with the SEC. The information in this release is provided only as
of the date of this release, and Heat undertakes no obligation to
update any forward-looking statements contained in this release
based on new information, future events, or otherwise, except as
required by law.
Media and Investor Relations ContactDavid
Waldman+1 919 289 4017investorrelations@heatbio.com
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