Heat Biologics, Inc. and OncoSec Medical Inc. Announce Collaboration to Evaluate Combination of Immunotherapy Platforms

Collaboration to Evaluate Combination of Heat's Proprietary Impact Platform With OncoSec's Proprietary Intratumoral DNA Delivery Technology to Treat Variety of Cancers

DURHAM, N.C. and SAN DIEGO, Feb. 18, 2015 (GLOBE NEWSWIRE) -- Heat Biologics, Inc. ("Heat") (Nasdaq:HTBX), a clinical stage biopharmaceutical company focused on the development of cancer immunotherapies, and OncoSec Medical Inc. ("OncoSec") (OTCQB:ONCS), a company developing DNA-based intratumoral cancer immunotherapies, today announced that they have entered into an agreement to evaluate the combination of the immunotherapy approaches developed by each company.

Under the agreement, Heat and OncoSec will jointly evaluate the preclinical efficacy of Heat's proprietary gp-96-Ig based ImPACT immunotherapy platform using OncoSec's core technology, ImmunoPulse, an investigational stage intratumoral DNA delivery platform.

"We are excited to initiate this collaboration with OncoSec, one of the leaders in the field of intratumoral DNA delivery," said Taylor Schreiber, MD, PhD, Heat's Vice President of Research and Development. "This collaboration with OncoSec reflects our desire to expand Heat's ImPACT platform into DNA-based immunotherapies to stimulate immunity to both shared and private tumor antigens without introducing the complexities associated with personalized therapies," Dr. Schreiber added.

"In this collaboration we will evaluate the efficacy of Heat's proprietary DNA constructs with OncoSec's clinical stage electroporation platform," said Robert H. Pierce, MD, OncoSec's Chief Scientific Officer. "Heat's ImPACT platform is a unique approach that specifically activates tumor specific cytotoxic T-cells. We expect it will be effective with OncoSec's proprietary intratumoral delivery platform that has already shown promising clinical activity in both local and distant tumors in patients with metastatic melanoma," Dr. Pierce stated.

Heat and OncoSec are exploring this combination as part of their ongoing strategy to expand the application of their technologies to benefit cancer patients with unmet medical needs. Heat has two clinical stage programs based on the ImPACT platform, viagenpumatucel-L (HS-110) in a Phase 2 clinical trial in patients with non-small cell lung cancer and vesigenurtacel-L (HS-410) in a Phase 2 clinical trial in patients with non-muscle invasive bladder cancer. OncoSec's core platform, ImmunoPulse, which is based on the intratumoral delivery of DNA IL-12, is currently in Phase 2 clinical trials, investigating the approach for treatment of metastatic melanoma, head and neck cancer, triple negative breast cancer, and cutaneous T-cell lymphoma.

About Heat Biologics, Inc.

Heat Biologics, Inc. (www.heatbio.com) is a clinical-stage biopharmaceutical company focused on developing its novel, "off-the-shelf" ImPACT therapeutic vaccines to combat a wide range of cancers. Our ImPACT Therapy is designed to deliver live, genetically-modified, irradiated human cells which are reprogrammed to "pump out" a broad spectrum of cancer-associated antigens together with a potent immune adjuvant called "gp96" to educate and activate a cancer patient's immune system to recognize and kill cancerous cells. Heat is conducting a Phase 2 trial of its viagenpumatucel-L (HS-110) in patients with non-small cell lung cancer as well as a Phase 2 trial with its vesigenurtacel-L (HS-410) in patients with non-muscle invasive bladder cancer.

About OncoSec Medical Inc.

OncoSec Medical Inc. is a biopharmaceutical company developing its investigational ImmunoPulse intratumoral cancer immunotherapy. OncoSec Medical's core technology is designed to enhance the local delivery and uptake of plasmid-encoded IL-12 and other DNA-based immune-targeting agents. Clinical studies of ImmunoPulse have demonstrated an acceptable safety profile and preliminary evidence of anti-tumor activity in the treatment of various skin cancers, as well as the potential to initiate a systemic immune response without the systemic toxicities associated with other treatments. OncoSec's lead program evaluating ImmunoPulse for the treatment of metastatic melanoma is currently in Phase 2 development, and is being conducted in collaboration with several prominent academic medical centers. As the company continues to evaluate ImmunoPulse in its current indications, it is also focused on identifying and developing new immune-targeting agents, investigating additional tumor indications, and evaluating combination-based immunotherapy approaches. For more information, please visit www.oncosec.com.

Heat Biologics, Inc. Forward Looking Statements

This press release includes forward-looking statements on our current expectations and projections about future events. In some cases forward-looking statements can be identified by terminology such as "may," "should," "potential," "continue," "expects," "anticipates," "intends," "plans," "believes," "estimates," and similar expressions. These statements are based upon current beliefs, expectations and assumptions and include statements regarding the potential for impact of Heat's ImPACT Therapy, the expectation that Heat's technology will be effective with OncoSec's platform. These statements are subject to a number of risks and uncertainties, many of which are difficult to predict, including the ability for Heat's ImPACT Therapy to perform as designed, the contributions to be derived from the collaboration, the ability of Heat to meet each of its anticipated objectives and to do so on a timely basis and the other factors described in our annual report on Form 10-K for the year ended December 31, 2013 and our other filings with the SEC. The information in this release is provided only as of the date of this release, and we undertake no obligation to update any forward-looking statements contained in this release based on new information, future events, or otherwise, except as required by law.

OncoSec Medical Inc. Forward Looking Statements

This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this release that are not historical facts may be considered such "forward-looking statements." Forward-looking statements are based on management's current preliminary expectations and are subject to risks and uncertainties, which may cause our results to differ materially and adversely from the statements contained herein. Some of the potential risks and uncertainties that could cause actual results to differ from those predicted include our ability to raise additional funding, our ability to acquire, develop or commercialize new products, uncertainties inherent in pre-clinical studies and clinical trials, unexpected new data, safety and technical issues, competition, and market conditions. These and additional risks and uncertainties are more fully described in OncoSec Medical's filings with the Securities and Exchange Commission. Undue reliance should not be placed on forward-looking statements, which speak only as of the date they are made. OncoSec Medical disclaims any obligation to update any forward-looking statements to reflect new information, events or circumstances after the date they are made, or to reflect the occurrence of unanticipated events.

Heat Biologics, Inc. Contact Information:
Jeff Wolf
Chief Executive Officer
(919) 240-7133

Investor Relations
Michael Wood
LifeSci Advisors LLC
(646) 597-6983
OncoSec Medical Inc. Contact Information:
Jordyn Kopin
Investor Relations

Mary Marolla
Media Relations