bioMmune Announces Name Change to Pascal Biosciences Inc.
VANCOUVER, BRITISH COLUMBIA, March 30, 2017 -- bioMmune Technologies Inc. (TSX.V: IMU) (the “Company”), a Vancouver-based biotechnology company, is pleased to announce that effective Thursday, March 30, 2017, the Company has changed its name to Pascal Biosciences Inc. (“Pascal”). Effective Friday, March 31, 2017, in connection with the name change, the Company’s shares will trade under the new stock symbol “PAS” on the TSX Venture Exchange.
This name change reflects the Company’s a newly focused effort to bring novel immunotherapy discoveries into the clinic. Blaise Pascal was an inventor, physicist, mathematician, and philosopher. With our new name, we are energized to discover new pharmaceuticals that benefit human health.
The name change was approved by the Company’s board of directors in accordance with the articles of the Company. There is no consolidation or change in the share capital of the Company. No action is required by stockholders with respect to the name change. The name change will not affect stockholders' rights or the validity or transferability of any outstanding stock certificates.
Patrick Gray, President and CEO of Pascal, commented, “We are very pleased to announce the name change of the Company to Pascal Biosciences Inc., which we believe better reflects the new business strategy we plan to execute. We will continue to focus on cancer, autoimmunity and infectious diseases and advance our three main programs. We look forward to providing further updates on our strong program pipeline scheduled for this year.”
Pascal Biosciences will continue to focus on cancer, autoimmunity, and infectious disease and will continue to advance its three main programs. In our cancer program, the Company has used proprietary screening methods to identify novel compounds that reveal metastatic cancer cells to the host immune system. A number of these compounds have acceptable pharmacological properties and are effective in promoting immune responses towards metastatic tumours in animal models of cancer.
In its second program, the Company has created a panel of novel biologics directed at calcium channels predominantly expressed in the immune system. Regulation of calcium channel activity can modify disease outcome in several autoimmune diseases. Additionally, specific calcium channels have been found to be upregulated in hematopoietic tumours, making them potentially vulnerable to our therapeutic agents.
The third program is aimed at improving vaccine performance. The Company has completed an initial trial of a new vaccine format for Influenza A. The lymphocyte cell surface protein CD74 is critical for the immune response to fight foreign antigens. Using a proprietary formulation, this platform augments the acquired immune response against influenza. In a humanized animal model of Influenza A, this formulation outperformed a conventional vaccine.
On Behalf of the Board of Directors
Patrick W. Gray, President & CEO
Dr. Patrick Gray Tel: 206-650-6765
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