Cancer vaccine firm Oxford Vacmedix closes $12.5m Series A funding
South Korean and Chinese investors join round into Oxford University spinout developing cancer vaccines.
Oxford Vacmedix UK Limited (OVM), a UK-based biopharma company focused on the development of cancer vaccines, has completed its Series A financing round of $12.5m (£9m) with a consortium of South Korean and Chinese investors.
OVM will use the funds to complete preclinical development and to enter Phase 1 clinical trials with its two lead vaccines, OVM-100 and OVM-200, focusing on unmet clinical need. OVM-100 is an HPV vaccine targeted at cervical cancer, and OVM-200 represents a new type of vaccine utilising survivin to target solid tumours. Both vaccines will be developed as single agents and in combination with immune-oncology agents. The company will also continue to develop its diagnostic kits for cellular immunity.
Spun out by Oxford University Innovation in 2012, OVM is commercialising research led by Dr Shisong Jiang, developed as a partnership between Oxford University’s Department of Oncology and the Medical Research Council’s Weatherall Institute of Molecular Medicine, also based in Oxford. The technology uses the novel, proprietary platform of recombinant overlapping peptides to design and develop therapeutic cancer vaccines and diagnostics with the potential for increased efficacy.
Shisong Jiang, Founder and Chief Scientific Officer at OVM, added: “This Series A investment will allow us to further develop ROP technology – a quick and economic way to produce vaccines and diagnostics for cancer and infectious diseases. We hope our effort will eventually benefit the health of many patients.”
Read the full press release on the Oxford University Innovation website
Image credit: John Cairns/Oxford Sciences Innovation