Optical Molecular, Cedars-Sinai to develop cancer vaccine

By Lisa Kerner

Charlotte, N.C., Sept. 19 - Optical Molecular Imaging, Inc. entered into an agreement with Cedars-Sinai Medical Center to acquire an exclusive, worldwide license for a cancer vaccine therapy that Optical Molecular will be developing.

A definitive license agreement is expected within 60 days.

As part of the agreement, John Yu, inventor of the technology and Cedars-Sinai employee, will join Optical Molecular as chief scientific officer and board member.

Cedars-Sinai will receive 8.5% of Optical Molecular's stock.

Optical Molecular, a Los Angeles development stage company, will developing and commercialize biological products to enhance the patient's immune system responses to treat various forms of cancer.

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