Rockville-Based American Gene Technologies to Go Public with HIV Cure Division

American Gene Technologies International, a biotech company based in Rockville, Maryland, has announced that it will spin off its Addimmune division as a publicly traded company. Addimmune is focused on developing a potential cure for HIV.

According to a report by WTOP, the move is being made through a special purpose acquisition company (SPAC) and is expected to raise $100 million in funding. The funds will be used to advance the development of AGT’s HIV cure, which has shown promising results in clinical trials.

The decision to spin off Addimmune as a separate company reflects the growing interest in gene therapy and the potential for new treatments for diseases such as HIV. AGT’s HIV cure uses a combination of gene therapy and cell therapy to target and eliminate the virus from the body.

The announcement is a significant milestone for AGT and the biotech industry as a whole. The company has been working on its HIV cure for over a decade and has invested millions of dollars in research and development.

As the company moves forward with its plans to go public, it is poised to make a major impact on the field of gene therapy and potentially revolutionize the treatment of HIV. We look forward to following the progress of AGT and Addimmune as they continue to develop and advance their groundbreaking treatments.

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