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Cytovance Biologics, Inc. and Precision Biologics, Inc. Announce Extension of cGMP Manufacturing Agreement for NEO-102 Drug Product

OKLAHOMA CITY, OK -- (Marketwired) -- 03/25/14 -- Cytovance Biologics, Inc., a leading full-service contract manufacturer ("CMO") of mammalian and microbial biologics, is extending its manufacturing agreement with Precision Biologics, Inc., a Texas-based clinical stage biopharmaceutical company.

Precision Biologics is advancing its clinical trials with its leading monoclonal antibody candidate -- referred to as Ensituximab or NEO-102 -- which is being developed as a therapeutic drug candidate for pancreatic and colorectal cancers. Precision has contracted Cytovance Biologics as its CMO to provide technology transfer and additional cGMP manufacturing services of NEO-102 in support of its ongoing Phase 2 clinical trials.

"With this agreement, Precision Biologics is strengthening its longstanding and growing relationship with the scientific professionals of Cytovance," said Dr. Albine Martin, COO of Precision Biologics, Inc. "Cytovance has been a valuable partner in helping us reach another milestone in our program directed towards the treatment of pancreatic and colorectal cancers."

"Our state-of-the-art facilities and experienced staff are prepared to continue the delivery of clinical materials for Precision Biologics," said Darren Head, President and Chief Executive Officer of Cytovance Biologics, Inc. "We are proud to be an established partner with Precision Biologics and support them in their expanded clinical trial program."

About Precision Biologics, Inc.

Founded in February 2012 and commencing business in late September 2012, Precision Biologics, Inc. is a clinical stage biotechnology corporation focused on developing therapeutic and diagnostic products for the early detection and treatment of cancer. Precision Biologics is uniquely positioned to create innovative therapeutics through the use of proprietary cancer vaccines, several of which have demonstrated success in human trials. For further information regarding Precision Biologics, Inc., visit www.precision-biologics.com/.

About Cytovance Biologics, Inc.

Cytovance Biologics is a biopharmaceutical contract manufacturing company specializing in the production of therapeutic proteins and antibodies from both mammalian cell culture and microbial fermentation. In addition to its cGMP manufacturing services, the company offers process development, cGMP cell banking and support services from its Oklahoma City state-of-the-art facilities. Learn more about Cytovance Biologics at www.cytovance.com.

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Cytovance Biologics, Inc.
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Precision Biologics, Inc.
RoseMarie Terenzio
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