Recently, Proviva Therapeutics announced the completion of its $18 million Series A financing round, with investments from Lapam Capital, Enran Venture Capital, and Shenzhen Sangel Venture Capital Co., Ltd. The funds from this round will be used to advance the clinical development of its core product, PTX-912.
Proviva Therapeutics is a clinical-stage biotechnology company dedicated to developing a new generation of cytokine-based anti-tumor immunotherapies. To address the traditional challenge of peripheral toxicity associated with cytokines, the company has independently developed the "Crossover" cytokine prodrug technology platform, which enables specific drug activity release within the tumor microenvironment. Relying on the "Crossover" technology platform, Proviva successfully developed PTX-912 – a next-generation prodrug fusion protein targeting immune cells with Interleukin-2 (IL-2).
Dr. Hongxing Zhou, founder and CEO of Proviva Therapeutics, stated: "We are grateful for the recognition and support from our investors. We remain focused on addressing unmet clinical needs in cancer treatment, particularly the current challenge of resistance to cancer immunotherapy. Cytokine IL-2 is a powerful tool to tackle these issues, but its peripheral toxicity has limited its application. PTX-912 overcomes the drawbacks of traditional IL-2 therapies and is the first-in-class product to enter clinical trials, with the potential to become a cornerstone of next-generation cancer immunotherapy, benefiting patients worldwide."