Business, Clinical Research Successes Lead to Executive Transition at Heat Biologics
RESEARCH TRIANGLE PARK, N.C. – (May 8, 2012) – Heat Biologics, a clinical-stage immunotherapy company, and Colonial Technology Development Co., which grows and builds medical and technology companies, announced today that Taffy Williams, Ph.D., will transition from being Heat’s president to being its senior advisor. Heat CEO Jeffrey Wolf will take on the additional role of president from Williams, the founder of Colonial Technology who has helped guide Heat’s growth for the past four years.
“Colonial Technology’s stated goal with every client is to nurture their development to the point where our role becomes obsolete. We are exceptionally proud to have achieved that point with Heat Biologics,” said Williams. “It has been an honor to oversee the efforts that have gone into advancing Heat’s technology platform, and I look forward to continuing the relationship as a senior advisor working on strategic issues.”
Wolf, who formed Heat in 2008, brought in Williams to help build out the company’s infrastructure and advance its technology platform. During Williams’ tenure, Heat’s lead drug, HS-110, advanced to a Phase II clinical trial for non-small cell lung cancer (NSCLC) under a commercial IND. Heat has also advanced development of vaccines for several other cancers. These are expected to advance to the clinic in the near future. Other notable milestones include the addition of a highly respected Scientific Advisory Board and experienced pharmaceutical staff.
While Heat’s core focus is on cancer, its scientists have also advanced vaccines for pathogens. Specifically, the company will be seeking partners for its HIV, malaria and hepatitis vaccines.
Nearly $20 million has gone toward development of Heat’s ImPACT technology. Funds have come from multiple sources, including the National Institutes of Health (NIH), investors and service providers and Small Business Innovation Research (SBIR) grants. The company also recently entered into a manufacturing agreement.
“The contributions Taffy and Colonial Technology have made to Heat Biologics over the years have been invaluable,” said Wolf. “Taffy’s deep understanding of the regulatory and business requirements for operating a clinical-stage company and his connections across the scientific and business communities have enabled Heat to build a world-class organization that is well on the way to bringing life-saving therapeutic vaccines to market.”
About Colonial Technology Development Co.
Colonial (www.colonialtdc.com) builds and grows medical and technology companies by providing the scientific and business expertise necessary to overcome a variety of challenges facing startup and spin-off companies, universities and investment firms. Our services, including business development, pharmaceutical and biotechnology startup management and financing, are focused on achieving the successful commercialization of technology and establishing profitable enterprises.
About Heat Biologics
Heat Biologics (www.heatbio.com) is a clinical-stage company focused on developing its novel off-the-shelf ImPACT therapeutic vaccines to combat a wide range of cancers and infectious diseases. ImPACT Therapy exploits the natural ability of antigens to activate the immune system by utilizing live, off-the-shelf, genetically modified cells injected into a patient to elicit a powerful immune response against the disease target. Heat’s ImPACT Therapy is based upon heat shock protein gp-96, a chaperone protein found in all human cells and normally tethered to our cells with a leash called the KDEL sequence. ImPACT Therapy removes this KDEL leash, thus transforming allogeneic living cells into powerful machines that continually pump out gp96 and their chaperoned antigens to activate the immune system against the full spectrum of antigens expressed by a patient’s disease. Heat is currently in Phase II trials against non-small cell lung cancer. Heat plans to initiate additional clinical trials against bladder and ovarian cancer in 2012.