Celsion Corporation Introduces a Wholly-Owned Subsidiary to Develop ThermoDox
Celsion GmbH oversees ongoing and future cancer research with ThermoDox®.
FREMONT, CA: Celsion Corporation (NASDAQ: CLSN), a clinical-stage company focused on DNA-based immunotherapy and next-generation vaccines, declares that its newly formed wholly-owned subsidiary, Celsion GmbH, will oversee all ongoing and future investigator-sponsored development of ThermoDox®, the Company's proprietary heat-activated liposomal encapsulation of doxorubicin. Andreas Voss, M.D., a renowned oncologist, joins Managing Director of Celsion GmbH. Later this year, he will resign from Celsion's board of directors to lead the subsidiary based in Zug, Switzerland.
Celsion's management now focuses exclusively on GEN-1, DNA-mediated IL-12 immunotherapy in Phase I/II development for the treatment of advanced ovarian cancer, and PLACCINE", its nucleic acid vaccine platform. Celsions' ongoing investment in ThermoDox® will be limited to clinical drug supply and modest financial support.
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ThermoDox® is currently being developed on an investigator-sponsored basis for a variety of cancer indications, including:
A Phase I study led by the University Medical Center Utrecht in the Netherlands to determine the safety, tolerability, and feasibility of ThermoDox® in combination with Magnetic Resonance Guided High Intensity Focused Ultrasound hyperthermia and cyclophosphamide therapy for the local treatment of metastatic breast cancer's primary tumor.
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