PARIS--(BUSINESS WIRE)--Oncovita, winner of the "Innovations in biotherapies and biomanufacturing" call for projects, will benefit from €4.5 million in funding under the France 2030 investment plan, and has completed a €3.5 million round of financing from private investors to support the development of its MVdeltaC immunotherapeutic vaccine in oncology.
Oncovita, a biotech company specializing in the development of therapeutic and prophylactic vaccines, today announced that it has 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 €4.5 million. At the same time, the company is announcing a €3.5 M round of financing from private investors and business angels. These funds, totaling €8 million, will support the development of its immunotherapeutic cancer vaccine MVdeltaC.
The €8 million will enable Oncovita to finance its ambitious 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. The company 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 Oncovita.
"We would like to thank France 2030, Bpifrance and our investors for their confidence. The funds raised will enable us to accelerate the preclinical and clinical development of MVdeltaC. Our development program is ambitious. It includes the evaluation of MVdeltaC in a first basket trial in 5 solid tumor types, as well as a translational component to identify relevant markers of tumor sensitivity to MVdeltaC. Our program also includes, at this stage, the development of an innovative industrial production process for MVdeltaC. Our aim is to master complex production processes to ensure the security and success of the project. This is a key factor in creating value in the vaccine sector. This is why we are in advanced discussions with one of the leaders in pharmaceutical subcontracting (CDMO) to sign a collaboration agreement", explains Jean-François Le Bigot, PhD, CEO of Oncovita.
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 successfully 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 unique 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.
The promising results of MVdeltaC were presented at the International Society for Vaccines (ISV) Congress held from October 22 to 24, 2023 in Lausanne, Switzerland.
About Oncovita:
Oncovita, a spin-off from Institut Pasteur, 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.
About France 2030:
- Governed by Bruno Bonnell Secretary General of Investments (SGPI) on behalf of the Prime Minister.
- A double ambition: Sustainably transform our key economic sectors (energy, healthcare, automobile, aeronautics, space…) whilst increasing the competitivity of French companies in these respective sectors. France 2030 will support all cycles of innovation up until industrialisation: from research to development of ideas, to prototypes, to production of new services and products.
- Unprecedent funding: €54 billion will be invested into companies, universities and research centers. France 2030 is in possession and has control over its €54 billion fund and will invest 50% of the budget into the decarbonisation of French economy and the latter 50% in sustainable innovations and ground-breaking technologies.
- Collective action: Strategic actions and plans will be thought of and deployed in coordination with economic actors, academia and field experts, as well as local and European institutions.
For more information: https://www.gouvernement.fr/france-2030
About Bpifrance:
About Bpifrance Bpifrance Investissement is the management company that handles Bpifrance's equity investments. Bpifrance is the French national investment bank: it finances businesses – at every stage of their development – through loans, guarantees, equity investments and export insurances. Bpifrance also provides extra financial services (training, consultancy) to help entrepreneurs meet their challenges (innovation, export…). For more information, please visit: https://www.bpifrance.com/
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