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Five Prime Therapeutics to Use Proprietary Protein Discovery Platform to Identify New Factors that Generate Hematopoietic Stem Cells in Collaboration with the University of Minnesota Medical School

SOUTH SAN FRANCISCO, Calif., June 27, 2016 (GLOBE NEWSWIRE) -- Five Prime Therapeutics, Inc. (Nasdaq:FPRX), a clinical-stage biotechnology company focused on discovering and developing innovative immuno-oncology protein therapeutics, announced that it will collaborate with distinguished faculty from the University of Minnesota Medical School on a new research project to identify ways to generate hematopoietic stem cells (HSCs) that are capable of being transferred in vivo and regenerating the hematopoietic system. The research is funded by Regenerative Medicine Minnesota.

The objective of the project is to improve the efficacy and safety of HSCs that are given to treat patients with a wide range of nonmalignant and malignant diseases. The project investigators have used adult cells to create a human inducible pluripotent stem cell (iPSC) line with markers that indicate exposure to HSC activating proteins. Five Prime will screen its proprietary library of more than 5,700 human extracellular proteins to identify proteins that promote the in vitro formation of human HSCs from the iPSCs.

Proteins that may offer a “self-renewable” means for expanding the pool of available HSCs could have a transformative impact on diseases where patients receive a blood product, bone marrow, peripheral blood or cord blood transplant, or suffer from an immune deficiency or recurrent infection. Recovery time might be shortened and the potential for rejection and other serious side effects may be reduced.

The research is being led by Bruce Blazar, MD of the University of Minnesota Medical School Department of Pediatrics and the Division of Blood and Marrow Transplantation. Dr. Blazar is Regents Professor of Pediatrics and Chief of the Pediatric Blood and Marrow Transplantation Program as well as Vice Dean for Clinical Research at the University of Minnesota Medical School. For more than 30 years, he has directed preclinical basic and translational immunology and stem cell research and early phase clinical studies, with particular emphasis in blood and marrow transplantation immunobiology. Dr. Blazar is also a member of Five Prime’s scientific advisory board.

The project is supported by Regenerative Medicine Minnesota, a state-funded program that awards grants for research, clinical trials, clinical care, educational programs, and businesses in Minnesota that promote, advance, improve, or enhance awareness of regenerative medicine. Five Prime will contribute its proprietary screening technology and expertise free of charge to the project, and will have a time-limited option in the future to negotiate a patent license to inventions rising from the collaboration.

“By collaborating with Five Prime Therapeutics, we have unique access to a high-throughput platform that includes a library of virtually all extracellular proteins, including cell membrane-bound and secreted proteins in full-length functional formats,” said Dr. Blazar. “As a result, virtually any protein identified should be able to be translated into the clinic without the type of concerns one might have with a drug-based screen. We believe this differentiates our approach and enhances our opportunity for success.”

“Dr. Blazar is a renowned expert in this area of immunology, and the impact of work in this area could be far reaching for cancer patients and others receiving stem cell transplants and cell-based therapies,” said Lewis T. "Rusty" Williams, M.D., Ph.D., president and chief executive officer of Five Prime. “The Five Prime team is pleased to support this exciting project.”

The Five Prime discovery platform includes a library of more than 5,700 extracellular proteins believed to encompass substantially all of the body’s medically important targets for protein therapeutics. Five Prime is applying all aspects of its biologics discovery platform, including cell-based and in vivo screening, receptor-ligand matching technologies and bioinformatics, to probe its library comprehensively and systematically to discover and develop new therapeutic candidates.

About Five Prime
Five Prime Therapeutics, Inc. discovers and develops innovative therapeutics to improve the lives of patients with serious diseases. Five Prime's comprehensive discovery platform, which encompasses virtually every medically relevant extracellular protein, positions it to explore pathways in cancer, inflammation and their intersection in immuno-oncology, an area with significant therapeutic potential and a growing focus of the company's R&D activities. Five Prime has entered into strategic collaborations with leading global pharmaceutical companies and has promising product candidates in clinical and preclinical development. For more information, please visit www.fiveprime.com.

Cautionary Note on Forward-looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "may," "will," "expect," "plan," "anticipate," "estimate," "intend" and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. These forward-looking statements are based on Five Prime's expectations and assumptions as of the date of this press release. Each of these forward-looking statements involves risks and uncertainties. Actual results may differ materially from these forward-looking statements. Factors that may cause actual results to differ from those expressed or implied in the forward-looking statements in this press release are discussed in Five Prime's filings with the U.S. Securities and Exchange Commission, including the "Risk Factors" contained therein. Except as required by law, Five Prime assumes no obligation to update any forward-looking statements contained herein to reflect any change in expectations, even as new information becomes available.

CONTACT: Heather Rowe Investor Relations 415-365-5737 heather.rowe@fiveprime.com Amy Kendall Corporate Communications 415-365-5776 amy.kendall@fiveprime.com

Source:Five Prime Therapeutics, Inc.