Anixa Biosciences to Focus on Development and Expansion of its Therapeutics and Vaccine Portfolio

Anixa Biosciences, Inc. (NASDAQ: ANIX), a biotechnology company focused on the treatment and prevention of cancer and infectious diseases, today announced that it has strategically realigned its business focus and redirected resources to exclusively focus on the development of therapeutics and vaccines in high-need patient populations.  As part of this realignment, the company has suspended development of the Cchek™ liquid biopsy technology. Going forward, Anixa's operations will center entirely on the development and expansion of its therapeutics and vaccine portfolio, which includes a cancer immunotherapy program being developed in partnership with the Moffitt Cancer Center, that uses chimeric endocrine receptor T-cell (CER-T) technology, a novel type of CAR-T.  Anixa is also developing a cancer vaccine technology addressing breast cancer with a specific focus on triple negative breast cancer (TNBC), the most lethal form of the disease, in partnership with the Cleveland Clinic.  Anixa will continue drug discovery and development of Covid-19 therapies, in partnership with OntoChem, GmbH.  In addition, Anixa will continue to examine emerging therapeutic technologies for further development. "Due to the evolving dynamics of the diagnostics market during this pandemic and projected disruptions in this industry, we see greater opportunity to benefit patients and our shareholders as a therapeutics-directed company," said Amit Kumar, Ph.D., Chief Executive Officer of Anixa.