Onyvax raises L8M to advance prostate cancer vaccine
London, UK-based Onyvax, which is developing novel cancer therapies, says that it has raised L8.0 million ($14.7 million) in a series C fundraising. The round was co-led by 3i and SR One, with additional funds from Barrie Haigh, Merlin Biosciences, MB Venture Capital Fund 1 NV, Alta Berkley Venture Partners and Alberville.
The funds raised will be used to advance the development of Onyvax-P, the firm's lead product for the treatment of prostate cancer, in a controlled, multicenter Phase IIb study to commence in the summer.
Onyvax-P consists of a combination of three cell lines that contain numerous prostate cancer markers that are expressed at different stages of the disease. By raising a powerful immune response against a comprehensive set of tumor antigens, the risk of the tumor being able to mutate and become resistant to the therapy is reduced. The Phase IIa trial for Onyvax-P demonstrated:
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