CHEYNEY, Pa., Aug. 9, 2021 /PRNewswire/ -- Navrogen, Inc., a privately held preclinical biotechnology company, announced today that it has raised $3.0M from an equity financing to support its Humoral Immuno-Oncology (HIO) discovery platform and preclinical therapeutic pipeline activities. HIO is a process by which tumors produce factors that suppress a patient's humoral immune response against malignant tissues. The major use of proceeds will focus on advancing the company's lead HIO-refractory, anti-mesothelin NAV-001 antibody drug conjugate program and its NK cell activator platforms that specifically address HIO suppressed cancers and immune-mediated diseases. The financing was led by Tellus BioVentures along with existing investors. As part of the financing, Lonnie Moulder, Managing Member of Tellus, and Allan Bedwick, will join the Navrogen Board of Directors.
"We are pleased to have Tellus BioVentures lead this round of funding as we take steps to further validate and advance our pipeline agents towards clinical development," stated Nicholas Nicolaides, Ph.D., Chief Executive Officer at Navrogen. "With Tellus, we gain additional access to professionals with deep biopharmaceutical operational and drug development experience that coupled with our extensive internal expertise will strengthen the pursuit of our value-creating objectives to deliver innovative medicines to patients with HIO-positive cancers and other immune-related disorders."
Lonnie Moulder, Managing Member of Tellus BioVentures, added, "We are thrilled to support Navrogen and its accomplished founding team in their efforts to achieve their platform and pipeline goals. Navrogen has discovered a unique translational approach for developing a new class of compounds to address immune-mediated diseases, including various cancer types".
Navrogen is a biotechnology company focused on the discovery of tumor-produced Humoral Immuno-Oncology (HIO) factors that are associated with suppressed humoral immunity, poor prognosis and limited therapeutic response of immune-mediated anti-cancer therapies. The company's mission is to develop first-in-class agents that can overcome the immunosuppressive effects of HIO factors by employing its proprietary screening and engineering technologies as well as diagnostic assays that can identify patients whose tumors produce HIO factors to advise physicians on therapeutic options. For more information, please visit www.navrogen.com.
SOURCE Navrogen, Incorporated