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8-K - CURRENT REPORT - MABVAX THERAPEUTICS HOLDINGS, INC. | mbvx-8k.htm |
Exhibit 99.1
MabVax Therapeutics Engages Greenhill & Co. as Advisor for
Exploring Strategic Alternatives
- Review includes full company sale, licensing agreements or asset
sale coupled with a reverse merger -
SAN DIEGO (September 6, 2017) – MabVax Therapeutics
Holdings, Inc. (Nasdaq: MBVX),
a clinical-stage immuno-oncology drug development company with a
fully human antibody discovery platform focused on the rapid
translation into clinical development of products to address unmet
medical needs in the treatment of cancer, today announced that it
has engaged Greenhill & Co. (NYSE: GHL) to serve as a financial
advisor to assist the Company in exploring and evaluating strategic
options with the goal of maximizing shareholder
value.
“As
part of our ongoing evaluation and prioritization of our portfolio
of assets, and in response to inbound inquiries, we have engaged an
industry-leading firm to advise us on potential alternatives and
strategies that will have the potential to unlock shareholder
value,” said David Hansen, MabVax's
President and Chief Executive Officer. “We will also
continue to advance our clinical programs including the recent
commencement of patient dosing in our Phase 1 MVT-1075
Radioimmunotherapy clinical trial for the treatment of pancreatic,
colon and lung cancers, and we remain committed to this continued
progression.”
Greenhill
will be assisting the Company in evaluating transaction options
currently being considered as well as identifying new opportunities
which could include the acquisition of MabVax by another company,
the sale or divestiture of specific assets coupled with a reverse
merger, merging with another company, or licensing of selected
technologies. MabVax does not have a defined timeline for the
exploration of strategic alternatives and is not confirming that
the evaluation will result in any strategic alternative being
announced or consummated. The Company does not intend to
discuss or disclose further developments during this process unless
and until its Board of Directors has approved a specific action or
otherwise determined that further disclosure is
appropriate.
About Greenhill & Co.
Greenhill
& Co., Inc., is a leading independent investment bank entirely
focused on providing financial advice on significant mergers,
acquisitions, restructurings, financings and capital raising to
corporations, partnerships, institutions and governments globally.
It acts for clients located throughout the world from its offices
in New York, Chicago, Dallas, Frankfurt, Hong Kong, Houston,
London, Melbourne, San Francisco, São Paulo, Singapore,
Stockholm, Sydney, Tokyo and Toronto.
About MabVax Therapeutics Holdings, Inc.
MabVax
Therapeutics Holdings, Inc. is a clinical-stage biotechnology
company with a fully human antibody discovery platform focused on
the rapid translation into clinical development of products to
address unmet medical needs in the treatment of cancer. Our
antibody MVT-5873, is a fully human IgG1 monoclonal antibody (mAb)
that targets sialyl Lewis A (sLea), an epitope on
CA19-9, and is currently in Phase 1 clinical trials as a
therapeutic agent for patients with pancreatic cancer (PDAC) and
other CA19-9 positive tumors. CA19-9 is expressed in over 90% of
PDAC and in other diseases including small cell lung and GI
cancers. CA19-9 plays a role in tumor adhesion and metastasis, and
is a marker of an aggressive cancer phenotype. CA19-9 serum levels
are considered a valuable adjunct in the diagnosis, prognosis and
treatment monitoring of PDAC. With our collaborators including
Memorial Sloan Kettering Cancer Center, Sarah Cannon Research
Institute, Honor Health and Imaging Endpoints, we have treated 50
patients with either our therapeutic antibody designated as
MVT-5873 or our PET imaging diagnostic product designated as
MVT-2163 in Phase 1 clinical studies, and demonstrated early safety
and specificity for the target. Patient dosing has commenced for
our lead development program in Phase 1 clinical study of the
Company’s radioimmunotherapy product MVT-1075. For additional
information, please visit the Company’s website, www.mabvax.com.
Forward Looking Statements:
This press release contains "forward-looking statements" regarding
matters that are not historical facts, including statements
relating to the Company's clinical trials of MVT-1075, MVT-5873,
and MVT-2163. We have no assurance that all the product
development pipeline will be fully developed by the
Company. Because such statements are subject to risks and
uncertainties, actual results may differ materially from those
expressed or implied by such forward-looking statements. Words
such as "anticipates," "plans," "expects," "intends," "will,"
"potential," "hope" and similar expressions are intended to
identify forward-looking statements. These forward-looking
statements are based upon current expectations of the Company and
involve assumptions that may never materialize or may prove to be
incorrect. Actual results and the timing of events could
differ materially from those anticipated in such forward-looking
statements because of various risks and
uncertainties. Detailed information regarding factors that may
cause actual results to differ materially from the results
expressed or implied by statements in this press release relating
to the Company may be found in the Company's periodic filings with
the Securities and Exchange Commission, including the factors
described in the section entitled "Risk Factors" in its annual
report on Form 10-K for the fiscal year ended December 31, 2016, as
amended and supplemented from time to time and the Company's
Quarter Reports on Form 10-Q and other filings submitted by the
Company to the SEC, copies of which may be obtained from the SEC's
website at www.sec.gov.
The parties do not undertake any obligation to update
forward-looking statements contained in this press
release.
Investor Contact:
Jenene Thomas
Jenene Thomas Communications, LLC
Phone: +1 (908) 938-1475
Email: jtc@jenenethomascommunications.com