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Opexa Executes Strategic Service Agreement With The American Red Cross

Stocks in this article: OPXA

Opexa Therapeutics, Inc. (NASDAQ: OPXA), a company developing Tovaxin®, a novel T-cell therapy for multiple sclerosis (MS), announced today that the Company has executed an agreement with the American Red Cross to provide blood procurement services to support Opexa’s upcoming Phase III study of Tovaxin in patients with Relapsing-Remitting MS.

Tovaxin is produced from an autologous whole blood procurement that is collected at a licensed collection facility. American Red Cross is the largest single supplier of blood and blood products in the United States, collecting and processing more than 40 percent of the blood supply and distributing it to some 3,000 hospitals and transfusion centers nationwide. Access to the American Red Cross centers across the U.S. will provide Opexa with a strong network of procurement locations nationwide, enhancing the efficiency of Opexa’s Phase III pivotal study and improving patient convenience.

"The past 12 months have been transformational for the Company as we prepare to bring Tovaxin into Phase III clinical studies,” commented Neil K. Warma, President and Chief Executive Officer of Opexa. “A partnership of this nature with the American Red Cross will enhance the patient and physician experience in the planned Phase III clinical trial substantially by offering the highest quality procurement services, both in terms of safety and convenience. Furthermore, this relationship solidifies Opexa’s supply chain for a seamless procurement of patient blood and will contribute significantly to an overall reduction in costs of goods.”

Rich Feliciano, Vice President, Business Development and Integration for the American Red Cross Biomedical Services, commented, “The Red Cross is pleased to support the upcoming planned Phase III clinical trial of Tovaxin. MS is the most common neurological cause of disability in young adults. We believe that the field of cellular therapy has great potential to have a positive impact on the lives of patients, and we look forward to working together during Opexa’s Phase III study and potentially into the future. With our extensive network of fixed blood collection sites, the Red Cross can provide blood collections in support of Tovaxin’s clinical trial across the United States.”

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