AlloVir Secures $120 Million Series B Financing to Advance Multivirus-Specific T-Cell Immunotherapies

Recently, VCBeat (WeChat official account: vcbeat) learned that Houston-based biotechnology company AlloVir has completed a $120 million Series B financing round. The round was led by Fidelity Management and Research Company, with participation from Gilead Sciences, F2 Ventures, Redmile Group, Invus, EcoR1 Capital, Samsara BioCapital, and Leerink Partners Co-Investment Fund.

Ann Lean, co-founder of AlloVir, stated that Allovir has established a partnership with ElevateBio, a gene therapy research and development company, aimed at enhancing the commercialization capabilities of multi-virus-specific T-cell immunotherapies. Specific immunity, also known as acquired or adaptive immunity, targets only a single pathogen. It refers to the body’s ability to resist infection, developed through postnatal natural infection or artificial prophylactic vaccination (such as bacterial vaccines, viral vaccines, toxoids, and immunoglobulins). This capability is generally induced by stimulation from antigens, including microorganisms, and enables the immune system to mount a specific response against those antigens.

According to Crunchbase data, AlloVir has previously completed two rounds of financing. In August 2017, AlloVir closed a $9 million funding round provided by the Texas Institute for Cancer Prevention. In September 2018, AlloVir completed a $30 million financing round.

Currently, AlloVir is developing multi-virus-specific T-cell immunotherapy to control the severity of infections in immunocompromised patients, particularly those who have undergone organ transplantation. According to Ann Lean, AlloVir typically develops anti-infective viral therapies by collecting blood from third-party donors and then culturing multi-virus-specific T cells in the laboratory.

On August 22, 2017, AlloVir’s lead product candidate, Viralym-M, successfully completed a Phase II clinical trial involving 38 patients. The results demonstrated that AlloVir’s multi-virus-specific T-cell immunotherapy could simultaneously treat up to five types of viral infections. The cumulative response rates for the treatment of these five viruses were as follows: 100% for BK virus, 94% for cytomegalovirus (CMV), 71% for adenovirus, 100% for Epstein-Barr virus (EBV), and 67% for human herpesvirus 6 (HHV-6).

AlloVir plans to conduct Phase III clinical trials in bone marrow transplant patients in 2020. David Hallal, CEO of AlloVir and co-founder of ElevateBio, stated that AlloVir will strengthen collaborations with the medical community to roll out its products to clinics across the country within the next 12 months.

Fidelity Management and Research Company serves as the investment advisor for the Fidelity family of mutual funds. The company comprises three investment divisions: Equities, High Income Investments, and Fixed Income. Leveraging diversified global investment management expertise and insights, Fidelity Management and Research Company is committed to providing clients with fund management and investment advisory solutions.

Gilead Sciences is a U.S. biotechnology company. The company primarily develops antiviral drugs for the treatment of HIV (AIDS), hepatitis B, hepatitis C, and influenza.

F2 Ventures is a venture capital firm focused on the healthcare sector, with an emphasis on arbitrage opportunities across the entire biotechnology landscape.

Redmile Group is a venture capital firm focused on the healthcare sector, with expertise in cross-market investments.

Invus is a venture capital firm that invests in companies across various industries, including consumer goods, food, specialty retail, software, biotechnology, medical devices, and products.

EcoR1 Capital is an investment consulting firm with a core focus on biotechnology. Headquartered in San Francisco, USA, EcoR1 Capital aims to advance medical research by investing in promising biotechnology companies.

Samsara BioCapital is a venture capital firm focused on innovative medical therapies.

Leerink Partners Co-Investment Fund is an investment bank focused on the healthcare sector, aiming to partner with companies that provide innovative medical products and services.

(Compiled by Zhang Yujie)