On May 11, 2020 Portage Biotech Inc. ("Portage" or "the Company") (Canadian Securities Exchange: PBT.U, OTC Markets : PTGEF), reported that It has made an additional €900k investment in its associate, Stimunity, the Paris-based cancer immunotherapy company focused on STING (Press release, Portage Biotech, MAY 11, 2020, View Source [SID1234557483]). Stimunity has reached a major milestone in its preclinical development plan and the additional financing will enable it to start the manufacturing of its biologic cGAMP-VLP (STI-001) lead compound.

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"We knew since the beginning of the company that STING-activating cGAMP Virus-Like Particle (cGAMP-VLP) technology has a unique property enabling its payload to preferentially target immune cells, which is different from other chemical STING approaches. This has an impact on the stimulation of the immune system and the quality of the anti-tumoral response. We have determined that this targeting mechanism is able to deliver the cGAMP via systemic route of administration and that it leads to induction of systemic anti-tumor T-cell response" says Nicolas Manel, co-founder and Scientific Advisor of the company.

"These new data demonstrate that picking the right approach to modulate STING is key. The use of VLP carrier enables a simple systemic approach to deliver STING modulation directly to immune cells. Portage is pleased with the work performed by Stimunity and this new round of financing will support the progress toward clinical trials" says Dr. Ian Walters, Chairman of Stimunity’s Supervisory Board and CEO of Portage.