Lead investment of $3.0 million in Oxford Vacmedix Series B from existing investors.
Oxford, UK – 6th November 2024
Press Release – Oxford Vacmedix announces lead investment for Series B fund
Oxford Vacmedix (OVM), the UK-based biopharma company developing vaccines to treat cancer announced today 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. 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.
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.
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For more information or to express an interest in investing in Series B please contact:
William Finch, CEO, Oxford Vacmedix
T: +44 (0)1865 742087 | M: +44(0)7769 903711 | E: wfinch@oxfordvacmedix.com
Notes to Editor
About Oxford Vacmedix
Oxford Vacmedix UK Ltd, based at the Oxford Science Park, UK, is a bio-pharma company that was spun out from the University of Oxford’s Department of Oncology and is utilising the novel proprietary platform technology of recombinant overlapping peptides (ROPs) invented by Professor Shisong Jiang. ROPs have been validated as a technology to stimulate broad and strong T cell immunity therefore forming a good platform for therapeutic vaccines and diagnostics in cancer and infectious diseases.
The technology uses the novel, proprietary platform of ROPs to design and develop therapeutic cancer vaccines and diagnostics with the potential for increased efficacy, lower costs, simpler regulatory pathways and synergy when used in combination with other immune oncology (IO) agents. The company has extensive contacts and collaborations in China through Changzhou Bioscience Group (CBIG) that is using the ROP platform for diagnostics in both cancer and in infectious diseases.
OVM is developing 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 including prostate, ovarian and non-small cell lung cancer (NSCLC). Both vaccines will be tested as single agents and in combination with IO agents. OVM has a strong pipeline, with a diagnostic for anti-microbial resistance being tested and two other cancer vaccines is preclinical development.
OVM secured Series A investment from Dx&Vx (formerly Cancer ROP), a listed South Korean biotech company, and from existing shareholders in China in 2018. The company is currently seeking further Series B funding of $10.0m-$12.0m to advance OVM-200 to Phase 2 and OVM-100 into Phase 1 trials, as monotherapy and also in combination. In addition, the option of using mRNA delivery with the ROP technology is also being explored.
For more information: https://www.oxfordvacmedix.com
About Dx&Vx
Dx&Vx develops and researches novel biotechnology solutions for healthcare. The company offers analysis technology and genetic information as well as developing molecular diagnostic techniques, biological vaccines, and other biological products. Dx&Vx was previously known as Cancer ROP Co. Ltd. after its investment in Oxford Vacmedix in 2018. The company was founded in 2001 and is head-quartered in Seoul, South Korea.
For more information: https://www.dxvx.com