Fortress Biotech Subsidiary Helocyte Announces Option Agreement With City Of Hope For Exclusive Worldwide Rights To Use A Novel Bispecific CMV/HIV CAR T Cell Therapy For Treatment Of Adults Living With HIV-1
Portfolio Pulse from Benzinga Newsdesk
Fortress Biotech's subsidiary, Helocyte, has secured an option agreement with City of Hope for exclusive worldwide rights to use a novel bispecific CMV/HIV CAR T Cell Therapy for HIV-1 treatment. The therapy has shown promising results in preclinical studies, eradicating HIV from latent reservoirs. The California Institute for Regenerative Medicine (CIRM) has granted $11.3 million to fund the Phase 1 clinical trial at City of Hope, which has been accepted by the FDA.

October 16, 2023 | 1:02 pm
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Fortress Biotech's subsidiary Helocyte has secured an exclusive agreement for a novel HIV-1 treatment. This could potentially open a new revenue stream for the company if the treatment proves successful in clinical trials.
The news is directly related to Fortress Biotech and its subsidiary Helocyte. The successful development and commercialization of the novel HIV-1 treatment could significantly boost the company's revenues and profitability, positively impacting its stock price. However, the outcome of the clinical trials is uncertain, hence the confidence score is not at the maximum.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 100