Business

Heat Biologics shares rise on news of collaboration

Heat Biologics announced Wednesday that it has entered into an agreement with OncoSec Medical to evaluate the possibility of combining their approaches to treating cancer patients.

Durham-based Heat has a proprietary DNA therapy treatment that is designed to reprogram human cells so that a patient's own immune system can be used to fight various forms of cancer. OncoSec core technology, ImmunoPulse, is an intratumoral DNA delivery platform.

Investors welcomed the announcement. Heat shares were up more than 10 percent in trading early Wednesday afternoon.

Heat has no products on the market but is developing drugs for bladder cancer and lung cancer. The company expects to report initial results from a Phase 2 trial of its bladder cancer treatment in the third quarter of 2016; the company's Phase 2 trial of its lung cancer treatment is under way.

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