Immvira Bioscience Secures $58M Series B Financing Led by Summit Healthcare to Advance Oncolytic Virus Pipeline and Files IPO Prospectus

Today, ImmVira officially announced the completion of its $58 million (RMB 400 million) Series B financing round. This round attracted top-tier domestic and international healthcare investment funds and institutional investors, led by Huagai Capital, with participation from Apricot Capital and Shenzhen CO-WIN Venture CAPITAL Investmen Limited. Hillhouse Ventures, the lead investor in the previous round, continued to increase its investment.

The proceeds from this round of financing will be used to advance clinical studies of the existing product pipeline, conduct preclinical research and development of early-stage innovative drugs, and pursue potential strategic collaborations both domestically and internationally.

Zeng Zhiqiang, Managing Partner of Huagai Medical Fund, stated, “As a professional investment institution deeply rooted in China’s healthcare industry, Huagai Capital is honored to partner with ImmVira and lead this round of financing. The founding team of ImmVira has dedicated decades to mastering the field of oncolytic viruses, focusing on the research and development of next-generation herpes-based oncolytic viruses and targeted oncolytic viruses. They possess the unique and proven experience of successfully commercializing the only oncolytic product approved for marketing in both the United States and Europe. We are deeply impressed by ImmVira’s innovation capabilities and execution strength in the oncolytic virus sector, and we are delighted to have the opportunity to invest in the ImmVira team, represented by Dr. Zhou Guoying. Furthermore, the strategic rise of China’s Greater Bay Area presents significant development opportunities for ImmVira. We will fully support ImmVira in becoming a globally leading enterprise in the research and development of oncolytic virus therapeutics.”

On May 29 this year, ImmVira’s first product, the oncolytic herpes simplex virus T3011 (intratumoral injection) for malignant solid tumors, received implicit clinical approval from the U.S. FDA, becoming the first China-developed oncolytic virus to obtain an IND implicit approval from the U.S. FDA and the first globally to conduct concurrent clinical trials in China, the United States, and Australia.

In addition to the monotherapy and various combination therapies of T3011 (intratumoral injection), ImmVira has also established four product pipelines covering all tumor types. Among these, T3011 (systemic injection) for lung cancer and liver cancer, C5252 for malignant brain tumors, as well as products targeting oncolytic virus-resistant tumors and hematologic malignancies, are steadily advancing. An increasing number of products are expected to enter clinical stages in the future.

“The completion of this financing marks a significant milestone for ImmVira as it transitions from preclinical product development to clinical research,” said Zhou Guoying, Chairman and CEO of ImmVira. “In 2020, a year unlike any other globally, ImmVira has continued to receive strong support from numerous investors. We have no reason to slow our pace; on the contrary, the company will spare no effort to uphold its corporate spirit of ‘professionalism and focus,’ remain true to the original aspiration of pharmaceutical developers, and strive to advance rapidly while ensuring the highest quality in drug development.”

ImmVira is dedicated to the development of next-generation oncolytic viruses, enhancing viral replication capacity while further boosting oncolytic activity and promoting immune responses. The company’s independently developed oncolytic virus product, T3, has simultaneously initiated clinical trials in Australia, China, and the United States to explore treatments for various solid tumors. Meanwhile, ImmVira is developing multiple additional oncolytic virus products, building a robust pipeline tailored to diverse cancer therapies, including the development of specifically targeted oncolytic viruses.

ImmVira was established on May 18, 2015, by six scientists from the United States specializing in “oncolytic and immunotherapy for tumors.” The company is dedicated to the development of innovative drugs for immunotherapy and targeted therapy using oncolytic herpes viruses, with five major product lines covering all types of cancer. These include:

1) T3011, an oncolytic virus product for intratumoral injection, as monotherapy and in combination therapy for various tumors;

2) Intravenously administered oncolytic virus products for widely metastatic tumors;

3) Oncolytic virus products for malignant brain tumors;

4) Oncolytic products targeting tumors resistant to oncolytic viruses;

5) Targeted oncolytic virus products for hematologic malignancies.

Meanwhile, a lyophilization technology for oncolytic virus products was successfully developed, resolving the challenges associated with -80°C cold-chain storage and transportation.