FALLS CHURCH, Va., April 19, 2011 /PRNewswire/ — Technology Catalysts International (TCI), leading global consultants to the pharmaceutical industry, announced that research on cancer trends and development has identified cancer vaccines as a viable treatment option for a variety of cancers that currently have ineffective treatments. The potential of the cancer vaccine market is forecast to approach $3 billion in 2015.
With the Medicare advisory committee’s recent recommendation to support Dendreon’s expensive prostate cancer vaccine, Provenge®, the field of cancer vaccines has received an unprecedented boost. As a result, many companies are expected to enter this emerging and highly profitable field of preventing, treating, and potentially curing cancer. Prophylactic cancer vaccines, Gardasil® by Merck and Cervarix® by GSK, have already gained worldwide attention with their blockbuster status/potential.
Dr. Joseph Pantginis of Roth Capital Partners, a full service investment banking firm, recently evaluated the BiovaxID® technology from Biovest International and believes that this vaccine will be the next success, even though there are certain risks involved including the path to market for BiovaxID. However, in spite of the risks, Dr. Pantginis feels cancer immunology is coming of age and that BiovaxID can be successful even when two prior idiotype vaccines (developed by Genitope and Favrille) have failed.