ImmVira Group Company, a biotechnology company focused on the development of new generation oncolytic viruses as potential cancer therapeutics, announced the signing of $10 million Series B Plus strategic financing.
The round of financing will be exclusively funded by Shanghai Healthcare Capital (SHC), managed by SIIC Capital, where Shanghai Pharma is one of the founding strategic cornerstone LPs.
In August 2020, ImmVira and Shanghai Pharma announced a clinical collaboration and exclusive license agreement for ImmVira’s MVR-T3011 intratumoral oncolytic virus program for the commercialization of novel immunotherapies to treat solid malignant tumors.
“We warmly welcome SHC to be our strategic investor,” said Grace Zhou, Chairman and CEO of ImmVira. “This investment further deepens our collaboration in the MVR-T3011 intratumoral program and highlights the commitment from the parties to the program’s commercial success. An investment from one of the country’s leading integrated pharma and healthcare fund is also a promising validation to the approach of using genetically modified oncolytic virus as an effective remedy to treat cancer.”
“ImmVira is a leader in providing best-in-class oncolytic virotherapy treatments for patients in need. We are pleased with the progress on the MVR-T3011 intratumoral program and now also take an important stake as a shareholder,” said David Liu, CEO of SHC. “In-line with our dedication to promote the bio-pharmaceutical industry in China, we look forward to making strategic investment with best-in-class innovators like ImmVira and would like to expand our portfolio to include more rising life science companies like ImmVira.”
ImmVira was founded on May 18, 2015 to develop innovative drugs using the herpes oncolytic virus (oHSV) vector encoded with immunomodulatory payloads. The company is focused on the development of oncolytic viruses as potential cancer therapeutics, which not only improves the replicating ability of the virus, but also further improves the oncolytic activity of the virus and promotes the immune response. ImmVira’s independently developed oncolytic virus product MVR-T3011 has launched clinical studies in Australia, China and the United States simultaneously to explore the treatment of multiple solid tumors.
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