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HomeFUNDINGAIVITA Biomedical Successfully Closes $25 Million Financing Round: Funds Support Ongoing Development...

AIVITA Biomedical Successfully Closes $25 Million Financing Round: Funds Support Ongoing Development of Personalized COVID-19 Prevention Vaccine

December 29, 2020

AIVITA Biomedical has closed its Series B-2 financing round for up to $25 million. Financing was provided by several life sciences investment firms.

AIVITA Biomedical notes the proceeds will support clinical development of AIVITA’s personalized immunotherapy programs, including Phase 2 studies in glioblastoma and ovarian cancer, as well as AIVITA’s application for commercial approval of its melanoma immunotherapy via Japan’s expedited regenerative medicine regulatory pathway.

In addition, the proceeds will also support AIVITA’s ongoing development of a personalized vaccine for COVID-19 prevention, which is currently in a Phase 2/3 study.

“The completion of this financing round reflects strong asset development, an outstanding team and a focused strategy,” said Hans S. Keirstead, Ph.D., chairman and chief executive officer of AIVITA. “AIVITA has clearly proven that personalized pan-antigenic vaccines are highly efficacious, safe and inexpensive to produce.”

AIVITA’s cancer immunotherapy programs are designed to target the seed of all cancers – tumor initiating cells – with a pan-antigenic approach that targets all neoantigens on those cells. Previous studies of these cancer immunotherapies have demonstrated promising safety and efficacy in multiple cancer types. AIVITA’s COVID-19 vaccine program uses the same autologous cell therapy platform, with patients’ own dendritic cells loaded with SARS-CoV-2 spike proteins and re-administered to potentially provide enhanced protection against viral mutations. The company has also leveraged its core technologies to create a skincare line launching in the US market in January 2021, known as Root of Skin™ MD, which dedicates net proceeds toward the treatment of cancer.

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Medical Device News Magazine is a division of PTM Healthcare Marketing, Inc. Pauline T. Mayer is the managing editor.

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