Provenance Biopharmaceuticals Corp., a Waltham, MA-based clinical-stage biotechnology company focused on developing novel therapeutics for cancer and other serious, life-threatening diseases, has closed an $8m financing with Alopexx Enterprises, LLC.
Under the terms of the transaction, the companies have formed Alopexx Oncology, LLC, which will manage the clinical development of DI-Leu16-IL2 for the treatment of non-Hodgkin’s lymphoma and other forms of hematological cancer. It is currently in an investigator sponsored Phase I clinical trial.
The molecule is one of a class of molecules developed using immunocytokine technology invented by Provenance Founder, President and CEO Stephen D. Gillies, Ph.D. and previously licensed to Merck Serono.
Founded in 2011 by experienced pharmaceutical executives, Alopexx Enterprises is a healthcare company focused on acquiring and developing preclinical and early clinical compounds, with an emphasis on infectious diseases, oncology, and CNS.