TerraScience "Subsidiary 'Oncopep' Expects Expansion of Fast Track Program for Cancer Vaccine Pipeline"

[Asia Economy Reporter Jang Hyowon] U.S. President Joe Biden has been repeatedly emphasizing investment in the United States by mentioning 'Buy America' day after day. This move, which began against the backdrop of growing concerns over increased dependence on China due to the overseas relocation of production facilities in industries such as semiconductors and electric vehicle batteries, has recently extended to emphasize 'Made in America' even in the bio industry.

According to the White House, President Biden signed the 'National Biotechnology and Biomanufacturing Initiative' executive order on the 12th (local time). The draft of the executive order reportedly includes a strategy to expand domestic production of a wide range of bioindustry products and materials, from new drug development to biofuels and food. Everything invented in the U.S. must be manufactured within the U.S.

Within the U.S. bio sector, focused investment will continue particularly in cancer research. Marking this executive order as a starting point, the U.S. government has launched the 'Cancer Moonshot' project, setting a goal to reduce the cancer mortality rate in the U.S. by more than half over the next 25 years.

A representative from TerraScience stated, “OncoPep’s main pipelines are achieving visible results from the research stage, conducting combination clinical trials with global pharmaceutical companies such as Celgene, AstraZeneca, and Merck,” and added, “Since the U.S. government’s bio executive order is especially focused on expanding research and development in the cancer field, OncoPep can expect not only investment and tax benefit support but also fast-track system benefits leading to product commercialization after Phase 2 clinical trials, depending on the outcomes of its main pipelines.”

OncoPep, located in Boston, U.S., is an immunotherapy specialist company with the motto of 'cancer treatment without recurrence,' focusing on the immune anticancer vaccine 'PVX-410' as its main pipeline. It currently holds a total of seven pipelines in blood cancer categories such as breast cancer and multiple myeloma, which are in Phase 1 and Phase 2 clinical trials.