Oncovita, a Paris, France-based biotech company specializing in the development of therapeutic and prophylactic vaccines, receives €8m in funding.
The company won the “Innovations in biotherapies and bioproduction” call for projects under the “Biotherapies and bioproduction of innovative therapies” acceleration strategy of France 2030’s health component, the Innovation Santé 2030 plan. This financing, operated by Bpifrance, will provide Oncovita with €4.5m. At the same time, the company is announcing a €3.5 M round of financing from private investors and business angels.
The €8m will enable the company to finance its development strategy, starting with the production of a first clinical batch of MVdeltaC, followed by the initiation of a phase 1/2a clinical trial in solid tumors during 2025. Oncovita also plans to develop an innovative industrial production process to be used for MVdeltaC’s various clinical trials. It could also be applied to the production of other therapeutic and prophylactic vaccines developed by the company.
The MVdeltaC vaccine candidate (MVP-06-01) is based on MeasovirR technology using measles vaccine virus, the world’s most widely used and safest vaccine. This technology has already been used to develop 6 prophylactic vaccines tested in human clinical trials, notably for immunogenicity. MVdeltaC’s immuno-oncolytic efficacy has already been widely demonstrated in multiple in-vitro and in-vivo tumor models, and its mechanism of action has been documented and published in the international scientific literature. Preclinical pharmacological and regulatory safety trials on MVdeltaC are currently being finalized.
A spin-off from Institut Pasteur led by Jean-François Le Bigot, PhD, CEO, Oncovita is a biotechnology company dedicated to the design and early development of new therapeutic and prophylactic vaccines against various types of cancer. Its vaccine candidates are developed using an innovative proprietary technology platform, MeasovirR, which modifies the measles vaccine virus genome to significantly enhance its anti-tumor properties. This “plug-and-play” platform has the capacity to generate candidates with high apoptotic immunogenic activity. Oncovita’s mission is to develop its candidates from the preclinical phase through to clinical proof of concept.
FinSMEs
29/11/2023