Bio-Matrix Scientific Group Inc., a biotech research and development company, recently made a joint announcement with its subsidiary Entest BioMedical Inc. (ENTB.OB), a testing center for various diseases, that they have reached a definitive agreement with Therinject LLC for the development of a immune-therapeutic cancer vaccine.

The companies will first focus on the veterinary market, treating animals with tumors. It’s a market that Bio-Matrix chairman and CEO David Koos says is a significant one. The company anticipates treating thousands of animals, generating millions in revenues.

“Cancer is the No. 1 cause of death among dogs. It’s estimated that one out of every three dogs will get cancer. We anticipate this immuno-therapeutic cancer vaccine could have an efficacy rate of as high as 60 percent where 15 percent to 20 percent is the current cure rate,” Koos stated in the press release. “We believe that during the first year this