The company intends to use the funding to initiate a phase I/II clinical trial to assess the use of its ColoAd1 oncolytic vaccine in the treatment of platinum-resistant, recurrent ovarian cancer. The OCTAVE (Ovarian Cancer Treated with Adeno Virus) study will be the second clinical trial of ColoAd1, a broad spectrum anticancer therapeutic capable of selectively destroying tumour cells at minute concentrations. The study, which will assess over 50 ovarian cancer patients, will be carried out at multiple UK cancer centres beginning in 2013.
Professor Iain McNeish, from the Institute of Cancer Sciences at the University of Glasgow, is Principal Investigator.
The funding was provider by Biomedical Catalyst, a government-backed £180m funding programme for businesses and academics in the life sciences sector which is managed jointly by the Technology Strategy Board and the Medical Research Council.
Led by John Beadle, CEO, PsiOxus is a portfolio company of Imperial Innovations Group plc (AIM: IVO), Invesco Perpetual, Mercia Fund, Lundbeck Ventures, and SR One.