On December 1, Proviva Therapeutics announced the completion of over$30 Million A+ Round FinancingThis round of financing was led by OrbiMed, a global leading healthcare investment institution, with participation from several renowned top-tier institutions, including Hankang Capital, Sequoia China, and a globally recognized industry fund.This round of financing will be mainly used to accelerate the global clinical development of its core product PTX-912 and to advance the research and development of several other preclinical innovative pipelines.
In March last year, Proviva Therapeutics completed$18 Million Series A Financing, to advance the clinical development of its core product PTX-912. Longpan Investment, Enran Venture Capital, and Xianzhen Capital jointly participated in this round of financing.Proviva Therapeutics is a clinical-stage biotechnology company focused on the next generation of cancer immunotherapy. The company has independently developed highly innovative platforms, including the "CROSSOVER" cytokine prodrug technology platform and the "MUSICA" multifunctional effector cell activation technology platform. Products developed based on these platforms are specifically activated in the tumor microenvironment and effectively address key bottlenecks of traditional therapies, such as high peripheral toxicity of cytokines or immune cell binders, low precision in functional activation at the effector cell level, and severe exhaustion, through overall product design. Proviva Therapeutics is committed to leveraging these breakthrough technologies to drive substantial advancements in cancer immunotherapy worldwide.PTX-912 is the first PD-1 antibody and IL-2 prodrug fusion protein developed by Proviva Therapeutics to enter clinical stage.Its highly innovative molecular design is reflected in the following aspects: 1) The use of an IL-2 mutant that retains IL-2Rβγ and partial IL-2Rα binding ability, with systemic activity masked by a prodrug structure, significantly reducing peripheral toxicity; 2) The fused PD-1 antibody not only provides immune checkpoint blockade but also enables targeted delivery of high-affinity IL-2, released after protease activation in the tumor microenvironment (TME), to tumor-specific T cells; 3) The activated IL-2 exerts a stimulating effect on tumor-infiltrating NK cells, offering potential synergistic effects to enhance overall anti-tumor immune responses.
Proviva Therapeutics was founded in 2019 as a clinical-stage biotechnology company focused on the next generation of cancer immunotherapies. Relying on its self-developed “CROSSOVER” prodrug platform, the company is committed to solving the long-standing issue of peripheral toxicity associated with cytokine-based drugs. Meanwhile, by integrating a continuously innovative technology system, including the “MUSICA” multifunctional effector cell activation platform, it aims to build a globally competitive product pipeline, striving to address significant unmet clinical needs in the field of cancer treatment.The core product of the company, PTX-912, has entered the clinical stage, and its related technology has been granted multiple patents, demonstrating the product's unique first-in-class mechanism and global development potential.Reference: Proviva Therapeutics, https://pharma.bcpmdata.com.
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