Neon Therapeutics' founder James Allison wins Nobel Prize in Medicine

James Allison, the founder of Neon Therapeutics Inc (NASDAQ:NTGN), a clinical-stage immuno-oncology company, has been awarded this year’s Nobel Prize in Medicine for his work in spearheading a pioneering, new approach to cancer treatment.

Receiving the prize together with Japan’s Tasuku Honjo, the Nobel committee awarded the two scientists’ research – which focuses on weaponizing a body’s immune system to attack cancer cells. Specifically, the aim of Allison and Honjo’s advances is to use T-cells, a type of white blood cell, to attack cancerous tumors.

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Based in Cambridge, Massachusetts, Neon Therapeutics is an immuno-oncology company and a leader in the field of so-called neoantigen-targeted therapies, which are transforming cancer treatment by directing the immune system towards neoantigens.  The company is developing both vaccine and T cell therapies, including treatments for metastatic melanoma, non-small cell lung cancer and bladder cancer.

Neon shares jumped 26% to $10.78 in response to the news.

“We’re glad to be working alongside Jim to develop the next generation of immunotherapy by using personal and precision vaccines and T-cell therapies to direct T-cells directly toward a patient’s tumors,” said Hugh O’Dowd, CEO of Neon Therapeutics in a statement.

In addition to his work at Neon, Allison is a professor and chair of The University of Texas MD Anderson’s Cancer Center Department of Immunology. He directs MD Anderson’s Immunology platform and is also a Howard Hughes Medical Institute investigator. His co-recipient of the Nobel Prize, Tasuku Honjo is a professor at Kyoto University.

Story by ProactiveInvestors