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MabVax Therapeutics Closes $5.25 Million Financing with Numoda Capital Innovations, Burrill Capital Fund IV, and RTP Venture Fund
Date:11/20/2012

SAN DIEGO, Nov. 20, 2012 /PRNewswire/ -- MabVax Therapeutics, Inc., a privately held clinical stage biotechnology company focused on the development of proprietary immunotherapies to address the unmet medical need of preventing recurrent cancer, today announced the closing of the first tranche in their Series B financing.  Numoda Capital Innovations led the round and was joined by existing investors Burrill Capital Fund IV and RTP Venture Fund for an aggregate investment of $5.25 million. The additional capital will allow MabVax to continue the development of its phase 2 vaccine aimed at preventing recurrent sarcoma and its 5B1 antibody program targeting metastatic pancreatic cancer.

The phase 2 clinical trial of the sarcoma vaccine has reached the targeted enrollment of 134 stage IV sarcoma patients in a randomized, multicenter, double-blind study of a vaccine specifically developed to elicit a targeted antibody response intended to kill residual circulating cancer cells and micrometastases that can cause recurrent sarcoma. The primary efficacy result of progression free survival (PFS) is expected to be reported in the second half of 2013.  The financing provides MabVax access to Numoda's advanced and patented clinical trial information technologies and management systems. These technologies will enable MabVax to move through the clinical trial process efficiently while providing visibility for reporting early assessments and timely trial results.  

The financing will also allow MabVax to continue development of the 5B1 antibody program targeting an antigen that is widely expressed in pancreatic cancer. The company has discovered and completed preclinical testing of a fully human IgG1 antibody with high affinity and exquisite specificity for the antigen and remarkable in vivo efficacy in a series of pancreatic and other cancer cell lines in SCID mice. MabVax is planning to begin GMP manufacturing of this antibody early in 2013
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SOURCE MabVax Therapeutics, Inc.
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