GT Biopharma Inc. (NASDAQ: GTBP) stock declined by 4.36% at the last close whereas the GTBP stock price gains by 6.81% in the pre-market trading session. GT Biopharma is a clinical-stage pharmaceutical business specializing in the discovery and marketing of immuno-oncology therapeutics based on its unique TriKE NK cell engager technology. GTBP’s TriKE platform is meant to harness and improve an individual’s immune system’s natural killer cells’ cancer-killing powers (NK cells).
GT Biopharma has announced the signing of a sponsored research agreement (SRA) with Jeffrey S. Miller, Deputy Director of the Masonic Cancer Center at the University of Minnesota and Consulting Chief Scientific Officer of GT Biopharma.
- Looking For The Best Stocks To Buy For 2021? 3 Electric Vehicle Stocks To Watch
- Top 3 Cosmetics Stocks in the market
The SRA’s goal is to help GT Biopharma continue developing TriKE therapeutic product candidates in the clinic, as well as to learn more about how TriKE treatment affects the patient’s natural NK cell population. The SRA is a two-year fixed-sum deal for $2,074,686 dollars ($2,074,686) that will be paid in equal quarterly installments over the following two years. GT Biopharma has the option to terminate the agreement early without penalty and will obtain an exclusive global license to any patentable innovations that arise as a result of the SRA.
TriKE is a strong and flexible protein biologic therapy platform that aids in the identification and destruction of cancer cells by natural killer cells (NK cells). TriKE is a three-part recombinant protein biologic that includes an NK cell engaging domain that targets CD16 on NK cells, and NK cell activation domain that includes Interleukin IL-15, and a cancer cell targeting domain.
Anthony Cataldo, Chairman and CEO of GT Biopharma commented,
Eleven individuals have now been treated by GTBP. They’ve found substantial decreases in CD33+ cancer cells, in addition to good safety outcomes. In support of their TriKE clinical development efforts, they are happy to finance additional TriKE research in Dr. Miller’s laboratory.