Company: ANIX
Filing Date: 2025-05-28
Form Type: 10-Q
Source: 0001641172-25-012701
Chunk: 4

Company: Anixa Biosciences Inc
Filing Date: 2025-05-28
Form: 10-Q
Item: Part I, Item 8
Chunk 4
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 to certain ovarian cancer
vaccine technology. The license agreement requires us to make certain cash payments to Cleveland Clinic upon achievement of specific development
milestones. This technology pertains to among other things, the use of vaccines for the treatment or prevention of ovarian cancers which
express the anti-Mullerian hormone receptor 2 protein containing an extracellular domain (“AMHR2-ED”). In healthy tissue,
this protein regulates growth and development of egg-containing follicles in the ovary. While expression of AMHR2-ED naturally and markedly
declines during menopause, this protein is expressed at high levels in the ovaries of postmenopausal women with ovarian cancer. Researchers
at Cleveland Clinic believe that a vaccine targeting AMHR2-ED could prevent the occurrence of ovarian cancer.

In May 2021, Cleveland Clinic
was granted acceptance for our ovarian cancer vaccine technology into the NCI’s PREVENT
program. The NCI is a part of the National Institutes of Health (“NIH”). The PREVENT program is a peer-reviewed agent development
program designed to support pre-clinical development of innovative interventions and biomarkers for cancer prevention and interception
towards clinical trials. The scientific and financial resources of the PREVENT program are being used for our ovarian cancer vaccine technology
to perform virtually all pre-clinical research and development, manufacturing and IND enabling studies. This work is being performed at
NCI facilities, by NCI scientific staff and with NCI financial resources and will require no material financial expenditures by the Company,
nor the payment of any future consideration by the Company to NCI.

In May 2024, based on the positive
clinical results to date in the development of our breast cancer vaccine, we entered into a Joint Development and Option Agreement with
Cleveland Clinic to collaborate in efforts to develop additional vaccines for the prevention or treatment of cancers. Working with Cleveland
Clinic researchers, we are focusing on the same novel scientific mechanism as in our breast and ovarian cancer vaccines, and working to
discover additional retired proteins that may be associated with other forms of cancer, specifically high incidence malignancies in the
lung, colon and prostate.

Over the next several quarters,
we expect the development of our therapeutics and vaccines to be the primary focus of the Company. As part of our legacy operations, the
Company remains engaged in limited patent licensing activities of its various patent portfolios. We do not expect these activities to
be a significant part of the Company’s ongoing operations nor do we expect these activities to require