News: Virax Holdings changes name to Prescient Therapeutics

Virax Holdings (ASX:VHL) has changed its name to Prescient Therapeutics and is expected to start trading as (ASX:PTX) on 15th December 2014.

Prescient's flagship asset is its Co-X-Gene anti-cancer technology.

The strength of the technology was confirmed earlier this year by licensing partner Transgene, demonstrating topline results for their Phase 2B clinical trial using Co-X-Gene, conducted under an option with Novartis (NYSE:NVS), in the treatment of Non-Small Cell Lung Cell Cancer.

Novartis is the largest pharmaceutical company in the world with a capitalisation of almost $200 billion, and Transgene’s immunotherapeutic product TG4010, utilizes Virax's Co-X-Gene platform.

Transgene’s activities have also gained the interest of major pharmaceutical company Sanofi (NYSE:SNY) capitalised at over $130 billion.

Sanofi and Transgene have subsequently launched construction of a manufacturing platform for the production of viral vectors, as utilized by Transgene’s immunotherapeutic product.

Medical conditions outside of cancer are also being targeted, including potential veterinary applications.