MabVax Therapeutics, Inc., a San Diego-based clinical stage biotechnology company focused on the development of proprietary immunotherapies, has closed the first tranche of $5.25m in Series B financing.
The company will use the capital to continue the development of its phase 2 vaccine aimed at preventing recurrent sarcoma and its 5B1 antibody program targeting metastatic pancreatic cancer. MabVax is planning to begin GMP manufacturing of this antibody early in 2013.
MabVax intends to enter phase 1 clinical trials in 2014. Derivatives of the 5B1 antibody are under also under development as a radiolabeled imaging agent to provide a significant advance in the diagnosis, staging, and treatment assessment of pancreatic cancer.