Collaboration aims to accelerate the
development of personalized therapies and transform patient care
through the use of precision medicine
Moffitt Cancer Center, a world-renowned cancer treatment and
research center, and Fulgent Pharma, a subsidiary of Fulgent
Genetics, Inc. (NASDAQ: FLGT) and a leading nanobiotechnology
company specializing in innovative cancer therapeutics, announced
today a strategic partnership aimed at advancing cancer treatment
through clinical development and pre-clinical co-development
initiatives. This collaboration combines Moffitt’s cutting-edge
clinical capabilities with Fulgent’s groundbreaking
nanotherapeutics and genomics platforms in an effort to accelerate
the development of personalized cancer therapies. Under the
agreement, Moffitt will provide Fulgent with priority access to its
clinical expertise and resources, with the aim of expediting the
advancement of Fulgent’s clinical pipeline. This priority access at
Moffitt includes prioritized clinical trial activation, enhanced
patient screening, and data sharing designed to get investigational
therapies to patients in need more quickly and efficiently.
Fulgent Pharma, a leader in nanoencapsulation technology, has
transformed paclitaxel, a chemotherapy drug known for its poor
solubility, into a soluble counterpart suitable for intravenous
injection called FID-007. In Phase 1 clinical studies conducted
with FID-007 to date, substantial tumor reduction across various
cancer types, including breast, head and neck, lung, bile duct, and
pancreatic cancers, has been observed.
Additionally, the partnership will focus on co-developing
next-generation personalized treatment options for cancer. Moffitt
will leverage its broad scientific and immunology expertise, access
to tissue samples and nonclinical research resources, while Fulgent
will contribute its novel and proprietary nano-particle-based drug
development platform along with its broad spectrum genetic and
genomic testing capabilities.
“Pooling our unique strengths, Moffitt and Fulgent will strive
to create new precision oncology therapies customized to meet the
specific needs of each patient, thereby improving future outcomes,”
said Fulgent Pharma President and CSO Ray Yin, Ph.D.
“This partnership aligns with Moffitt’s mission to contribute to
the prevention and cure of cancer. We are looking forward to
working with Fulgent to accelerate the translation of scientific
discoveries into lifesaving treatments for our patients,” said
Moffitt President and CEO Patrick Hwu, M.D.
“We are excited to collaborate with Moffitt Cancer Center, a
global cancer research and treatment leader,” said Ming Hsieh, CEO
of Fulgent Genetics. “By combining Moffitt’s clinical and research
expertise with Fulgent’s innovative nanotherapeutic platform and
growing patent portfolio, we believe we can make significant
strides in advancing personalized cancer treatment options.”
About Moffitt Cancer Center
Moffitt is dedicated to one lifesaving mission: to contribute to
the prevention and cure of cancer. The Tampa-based facility is one
of only 57 National Cancer Institute-designated Comprehensive
Cancer Centers, a distinction that recognizes Moffitt’s scientific
excellence, multidisciplinary research, and robust training and
education. Moffitt’s expert nursing staff is recognized by the
American Nurses Credentialing Center with Magnet® status, its
highest distinction. For more information, call 1-888-MOFFITT
(1-888-663-3488), visit MOFFITT.org, and follow the momentum on
Facebook, Twitter, Instagram and YouTube.
About Fulgent Pharma
Fulgent Pharma began as part of Fulgent LLC in Temple City,
California, established in June 2011. As the company progressed
into the sphere of precision medicine, it also started delving into
clinical genetic and genomic testing - a natural complement. In
2016, Fulgent LLC split into two separate entities - Fulgent Pharma
and Fulgent Genetics - in order to better pursue their independent
objectives. In 2022, Fulgent Pharma was acquired by Fulgent
Genetics to synergistically advance personalized cancer genomics
and precision oncology therapeutics. Today, Fulgent Pharma is fully
focused on perfecting drug candidates for treating a broad range of
cancers. Its partners in this endeavor include the University of
Southern California, Moffitt Cancer Center, and ANP Technologies.
For more information visit FulgentGenetics.com.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Examples of forward-looking statements in this press release
include statements about, among other things: future performance;
Fulgent Pharma’s research and development efforts, including any
implications that the results of earlier clinical trials will be
representative or consistent with later clinical trials, the
expected timing of enrollment and regulatory filings for these
trials and the availability of data or results of these trials,
including any implication that interim or preliminary data will be
representative of final results, the intended benefits of the
collaboration, including whether the collaboration expedites
development of any of Fulgent Pharma’s product candidates.
Forward-looking statements are statements other than historical
facts and relate to future events or circumstances or Fulgent
Pharma’s future performance, and they are based on management’s
current assumptions, expectations, and beliefs concerning future
developments and their potential effect on Fulgent Pharma’s
business. These forward-looking statements are subject to a number
of risks and uncertainties, which may cause the forward-looking
events and circumstances described in this press release to not
occur, and actual results to differ materially and adversely from
those described in or implied by the forward-looking statements.
These risks and uncertainties include, among others: the success of
Fulgent Pharma’s development efforts, including its ability to
progress its candidates through clinical trials on the timelines
expected; its compliance with the various evolving and complex laws
and regulations applicable to its business and its industry; and
its ability to protect its proprietary technology and intellectual
property. As a result of these risks and uncertainties,
forward-looking statements should not be relied on or viewed as
predictions of future events.
The forward-looking statements made in this press release speak
only as of the date of this press release, and Fulgent Pharma and
Fulgent Genetics assume no obligation to update publicly any such
forward-looking statements to reflect actual results or to changes
in expectations, except as otherwise required by law.
Fulgent Genetics, Inc.’s reports filed with the U.S. Securities
and Exchange Commission, or the SEC, including its annual report on
Form 10-K for the fiscal year ended December 31, 2023, filed with
the SEC on February 28, 2024, and the other reports it files from
time to time, including subsequently filed annual, quarterly and
current reports, are made available on the Fulgent Genetic’s
website upon their filing with the SEC. These reports contain more
information about Fulgent Genetics and Fulgent Pharma, their
business and the risks affecting their business.
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version on businesswire.com: https://www.businesswire.com/news/home/20240514935253/en/
Patty Kim Moffitt Cancer Center 813-745-7322
Patty.Kim@Moffitt.org
Melanie Solomon The Blueshirt Group
melanie@blueshirtgroup.com
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