ImmVira Announces US$10 million Strategic Series B Plus Financing with SIIC Capital

SHENZHEN and SHANGHAI, Sept.23, 2020 /PRNewswire/ -- ImmVira Group Company, a biotechnology company focused on the development of new generation oncolytic viruses as potential cancer therapeutics today announced signing of US$10 million Series B Plus strategic financing. This 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."

About ImmVira

ImmVira is a biotechnology company 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. At the same time, ImmVira is also developing a number of oncolytic virus products to meet the needs of different tumor therapies, including the development of targeting specific therapeutic oncolytic virus.

For more information please visit: www.immvira-theravir.com/

ImmVira Co., Ltd. was founded on May 18, 2015 to develop innovative drugs using the herpes oncolytic virus (oHSV) vector encoded with immunomodulatory payloads. The company currently has five developmental product lines, covering most tumors. They are:

1) Intratumoral injection of oHSV MVR-T3011, mono-therapy or combined of treatment with other oncology medications of various tumors;

2) Intravenous oHSV for extensive metastatic tumors;

3) oHSV for malignant brain tumors;

4) oHSV for oncolytic virus resistant tumors;

5) Targeted oHSV for hematological malignancies.

About Shanghai Healthcare Capital

Shanghai Healthcare Capital was approved by the Shanghai Municipal People's Government and initiated and established by SIIC and Shanghai Pharma. The overall targeted assets under management ("AUM") of SHC is RMB50 billion with Phase 1 closing of RMB10 billion expected in 2020. SHC invests globally with a focus on the healthcare industry, covering sub-sectors including biopharmaceuticals, medical devices and innovative healthcare services. Through its investments, SHC aims to help scientists to build life sciences companies in order to create innovative breakthroughs in human health, as well as to link companies in different stages and sub-sectors within the industry to bring synergies and collaborations and to build great companies in the healthcare industry. 

SOURCE Immvira Group Company

Related Links

www.immvira-theravir.com