On November 6, 2024 Oxford Vacmedix (OVM), the UK-based biopharma company developing vaccines to treat cancer reported the lead investment in its Series B fund of $3.0m from existing investors, Dx&Vx of Seoul, South Korea and Mr. Jin of Jia He Hui Investment of Beijing, China (Press release, Oxford Vacmedix, NOV 6, 2024, View Source;utm_medium=rss&utm_campaign=oxford-vacmedix-announces-lead-investment-for-series-b-fund [SID1234647823]). Dx&Vx is OVM’s largest shareholder, and Jia He Hui Investment is the second largest shareholder. The most recent investment has been made at the valuation for OVM of $54.0m, which reflects the substantial progress the company has made in developing the novel Recombinant Overlapping Peptide (ROP) technology. Funds will be used to accelerate the development of the lead cancer vaccine OVM-200 and support further research in the Professor Shisong Jiang’s labs in the Department of Oncology at the University of Oxford.
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OVM-200 targets survivin, a protein overexpressed by cancer cells that allow unregulated growth, and stimulates an immune response. The OVM-200 vaccine is in a Phase 1 clinical trial in the UK, which is focused on safety and on establishing an immune response in advanced cancer patients in three cancer indications: non-small cell lung cancer (NSCLC), prostate cancer and ovarian cancer. Initial results from the Phase 1a dose escalation study indicated good safety and a strong immune response. The ROP technology is unique in being suitable for all HLAs (human leucocyte antigen) and has potential to be used with mRNA technology. ROPs hold the promise of minimally invasive, cost effective and efficacious therapy that can also extend and enhance the effect of immunotherapy.
William Finch, CEO of OVM said:
We are delighted to have this support from our largest shareholders. It shows their confidence in OVM’s ROP technology and in the initial results with OVM-200. This funding will allow the completion of Phase 1 and preparation for Phase 2 trials of OVM-200 alone and in combination, to help patients with advanced cancer. We look forward to interest from other investors to complete Series B.
Kevin Kwon, CEO of Dx&Vx added:
We are very pleased to be supporting OVM through this investment. We look forward to completing licensing discussions for OVM-200 for S. Korea, China, and India. We plan to proceed with Phase 1b/ Phase 2 clinical trials and will try to launch OVM-200 through an accelerated approval that will allow patients to benefit early from these effective vaccines.