MabVax Therapeutics closes USD5.25m financing round
Clinical stage biotechnology company MabVax Therapeutics has closed the first tranche in the company’s series B financing.
Numoda Capital Innovations led the round and was joined by existing investors Burrill Capital Fund IV and RTP Venture Fund for an aggregate investment of USD5.25m.
The additional capital will allow MabVax to continue the development of its phase 2 vaccine aimed at preventing recurrent sarcoma and its 5B1 antibody programme targeting metastatic pancreatic cancer.
The phase 2 clinical trial of the sarcoma vaccine has reached the targeted enrolment of 134 stage IV sarcoma patients in a random, multi-centre, double-blind study of a vaccine specifically developed to elicit a targeted antibody response intended to kill residual circulating cancer cells and micrometastases that can cause recurrent sarcoma. The primary efficacy result of progression free survival (PFS) is expected to be reported in the second half of 2013.
The financing provides MabVax access to Numoda's advanced and patented clinical trial information technologies and management systems. These technologies will enable MabVax to move through the clinical trial process efficiently while providing visibility for reporting early assessments and timely trial results.
The financing will also allow MabVax to continue development of the 5B1 antibody programme targeting an antigen that is widely expressed in pancreatic cancer.
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