On June 15, 2020 Immvira Group Company, a biotechnology company focused on the development of new generation oncolytic viruses as potential cancer therapeutics, reported the completion of Series B financing for 58 million US dollars (Press release, Immvira, JUN 15, 2020, View Source [SID1234561113]). Attracting some of the top international and domestic medical and biotech investors, this new round of financing was led by Huagai Capital, with participation by Apricot Capital, Cowin Capital and the lead investor from previous round.
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This round of financing will be mainly supporting the preclinical and clinical development of existing product pipelines, the discovery of new candidate in its early stage, and the potential strategic collaboration with domestic and global partners.
Immvira Group Company achieved its major milestone by receiving IND clearance of its first product T3011 (intratumoral injection) from FDA on May 29th. T3011 has become the first oncolytic virus product to conduct human study in United States from mainland China, and the first to carry out multiple-regional clinical trials in United States, Australia and mainland China.
In addition to mono and combination therapies by T3011 (intratumoral injection), Immvira Group Company has additional 4 products planned in its pipeline covering multiple indications, including lung cancer and liver cancer (T3011-systemic administration), malignant brain tumors (C5252), virus-resistant solid tumors and hematological malignancies. All are progressing steadily, which are expected to enter the clinical stage in the near future.
"The completion of this round of financing marks an important milestone for Immvira Group Company from preclinical stage entering into clinical development stage," said Dr. Grace Zhou，Chairman of BOD and CEO of Immvira Group Company. "In the year of 2020, under such special circumstances around the globe, Immvira Group Company however is still embraced by so many investors with strong and enthusiastic support, we have no reasons to slow down! On the contrary, the company will make every effort to continue to uphold our corporate spirit of ‘Highly professional and highly focused’：not only push towards our goals at full speed, but must also watch ourselves conscientiously in each step of the development process."