EnGeneIC, Ltd., a NYC and Sidney, Australia-based biopharmaceutical company focused on developing a proprietary nanocell platform for the targeted delivery of cancer therapeutics, completed a $10m Series B financing.
The round was led by new investor GRT Capital Partners LLC, with participation from other new U.S. and existing investors as well as Foley Ventures LLC and various partners of Foley & Lardner LLP. In conjunction with the financing, EnGeneIC has established a U.S. base of operations in New York and appointed Anjan Chatterji as Executive Vice President of Corporate Development. Mr. Chatterji will operate out of the company’s New York City office.
EnGeneIC will use the funds to advance the clinical development of its antibody-targeted, EDV™ nanocell technology platform. The company expects to commence a Phase1/2a clinical trial in recurrent glioblastoma patients in mid 2015, which is being planned in conjunction with a premier U.S. hospital, as well as a personalized medicine trial at the Royal North Shore Hospital in Sydney. Additionally, it will continue funding the Phase 1/2a mesothelioma trial, which is currently enrolling patients in Australia and is expected to announce preliminary safety data in the second quarter of 2015.
Led by Himanshu Brahmbhatt, Ph.D., and Jennifer MacDiarmid, PhD., Joint-CEOs, EnGeneIC has developed EDV™, which utilizes antibody-targeted, bacterially derived, non-living “nanocells” to release high concentrations of chemotherapeutic agents, molecularly targeted drugs, and RNA-interference molecules directly into targeted tumor cells.