Dear Valued Shareholder,
Over the past two years, OncoSec has experienced unparalleled growth and expansion of our team, research pipeline, and clinical development activities. Thanks to the ambition and creativity of approximately 50 OncoSec colleagues, we continue to champion our company’s purpose: to deliver new cancer treatments through innovative science. As a result, OncoSec is now established as one of the lead intratumoral immunotherapy companies. As we celebrate our four-year anniversary, we reflect on our accomplishments to date: an industry-leading intratumoral immunotherapy pipeline, a state-of-the-art technology platform, key industry and academic collaborations, a diverse range of research programs, and an employee culture aligned with our values and purpose. I would like to expand upon these recent achievements and our vision as we begin the next chapter at OncoSec.
We have focused our efforts and aligned our clinical pipeline to address one of the greatest challenges in oncology today: the conversion of T-cell poor tumors into T-cell rich tumors. There is increasing data that response to anti-PD-1/PD-L1 therapies depends upon the presence of certain immune cells (CD8+ tumor-infiltrating lymphocytes) in the patient’s tumor. Interleukin-12 (IL-12) can increase the number of these critical cells within tumors. At OncoSec, we believe that our core technology, ImmunoPulse™ IL-12, will drive a CD8-specific immune response both locally and systemically, increasing the proportion of patients who will respond to anti-PD-1 and other checkpoint therapies. Our Phase II trial results in metastatic melanoma has led to an exciting new collaboration with the University of California, San Francisco, who will now be testing the hypothesis that ImmunoPulse™ IL-12 can enhance response to Merck’s anti-PD-1 treatment, KEYTRUDA® (pembrolizumab).
While we work to advance our clinical studies, we are also continuing to explore the broader applications of our ImmunoPulse™ technology. While our engineers work to develop advanced devices capable of accessing difficult-to-reach tumors, the Discovery Research team is investigating new DNA constructs and targets focused on defeating cancer’s ability to evade the immune system, allowing the patient’s immune system to recognize and attack the tumor(s). To this end, our team is exploring different preclinical combination approaches as well as screening new therapeutic candidate molecules. From an operational perspective, we continue to expand OncoSec’s team and internal capabilities to reach the next inflection point. We aim to strengthen and streamline the R&D process as our colleagues unite in a single purpose-built facility this year.
As a public company, we understand the need to create and increase value for our shareholders. We believe the data generated from our studies as well as the expansion of our versatile platform will lead to increased partnership opportunities. By continuing to validate our technology both clinically and preclinically, we expect to be in a better position to attract a strategic partner to aid in the continued development of our programs and create this value. This year also marked the execution of a key corporate development goal: uplisting to the NASDAQ Capital Market. As a NASDAQ-listed company, we are now able to broaden our shareholder base, raise the visibility of OncoSec’s capabilities, and generate even more value for our shareholders.
As we build on our success and advance our pipeline for the benefit of patients everywhere, I want to express my sincere appreciation to all our shareholders. We are making clear progress towards accomplishing our mission to deliver a new standard of cancer care through innovative science. As we continue on our journey we are thankful for your ongoing confidence and support.
CEO | President
June 17, 2015