BioVex Raises $40 Million in First Close of Series F...( About OncoVEX GM-CSF Phase II Cli...)

BioVex recently concluded a 50-patient Phase II trial for OncoVEX GM-CSF as a standalone therapy in patients with unresectable Stage IIIc and Stage IV metastatic melanoma. The trial was designed to measure overall objective response, which is defined as a complete response (CR), where disease is completely eliminated, or partial response (PR), where there is a >50% reduction in disease burden. 87% of patients who entered the study were progressing after having failed prior therapy. 13 objective systemic responses (26% objective response rate) were achieved including eight CRs. Eleven responses have so far continued for more than 6 months (range 5-28+ months). Responses were observed in patients with all stages of disease, including the complete resolution of un-injected visceral deposits.

About BioVex

BioVex is a privately held biotechnology company based in Woburn, MA. The Company is developing a new class of potent biologics for the treatment of cancer and prevention of infectious disease.

The Company's lead cancer technology platform, OncoVEX GM-CSF is a first-in-class oncolytic, or cancer destroying virus technology. OncoVEX GM-CSF works by: replicating and spreading within solid tumors, causing the death of cancer cells; while stimulating the immune system to destroy un-injected metastatic deposits. Both modes of action have been clearly validated in the clinic, where multiple patients with metastatic disease progressing at enrollment have been declared disease free. BioVex believes OncoVEX GM-CSF has the potential to become a leading standard of care in the treatment of many solid tumors based on the strength of clinical data generated to date, coupled with a benign side effect profile.

The Company's second program is a vaccine for genital herpes, ImmunoVEX HSV2, which provides comple
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