OncoMyx Therapeutics Secures $25 Million Series A Financing to Advance Oncolytic Virus Platform for Cancer Immunotherapy

VCBeat (WeChat Official Account: vcbeat) learned from foreign media that U.S. biotechnology company OncoMyx Therapeutics recently completed a $25 million Series A financing round. The proceeds from this round will be used to support the company’s continued research and development of oncolytic virus gene therapies.

It is reported that this round of financing was led by Boehringer Ingelheim Venture Fund, Delos Capital, and Xeraya Capital, with participation from Korea Investment Partners, City Hill Ventures, and others.

OncoMyx Therapeutics, founded in 2018 and headquartered in Arizona, USA, is a biotechnology company dedicated to the development of viral vector technologies for the treatment of cellular diseases.

OncoMyx Therapeutics is developing oncolytic immunotherapies based on the myxoma virus (MYXV) platform to coordinate immune responses and cancer treatment. Successful immuno-oncology (IO) cancer therapies often require combination regimens, and clinical trials have currently demonstrated that oncolytic viruses (OVs) are safe and effective IO complements. The company’s MYXV platform, spun out from Arizona State University (ASU), holds promise as the leading OV approach in this field. Meanwhile, OncoMyx has assembled a top-tier OV team around its MYXV platform to accelerate the development of cancer therapeutics.

The MYXV platform offers the following advantages: (1) Non-human pathogen therapy. Oncolytic viruses (OVs) are harmless viral vectors that deliver therapeutic agents without posing a health risk as pathogens. (2) Direct immune stimulation. Upon administration, OVs can directly trigger immune responses in relevant cells to treat diseases. (3) Comprehensive treatment. Certain OVs not only target diseased cells but also modulate multiple biological pathways to combat various cellular disorders. This therapeutic approach leverages the body’s own integrative and coordinative mechanisms, eliminating the need for injecting multiple chemical agents. (4) Systemic delivery. The MYXV platform enables the delivery of therapeutic cells to multiple tissues without inducing immune rejection. In addition to OV vectors, the platform has developed leukocyte-based vectors for adjunctive therapy.

Boehringer Ingelheim Venture Fund, established in 1973 and headquartered in Germany, is a venture capital firm focused on investing in the early stages of healthcare startups. It has completed 34 investments to date.

Delos Capital, founded in 2013 and headquartered in New York, USA, is a private equity and venture capital firm focused on investing in the late-stage development of startups. It has completed seven investments to date.

Xeraya Capital, headquartered in Malaysia, is a venture capital firm that has completed 11 investments to date.

Korea Investment Partners, established in 1986 and headquartered in South Korea, is a private equity and venture capital firm.

City Hill Ventures is a venture capital firm focused on healthcare, founded in 2010 and headquartered in San Diego, California, USA. City Hill Ventures primarily provides seed and early-stage investments to private companies in the fields of life sciences (therapeutics, diagnostics, medical devices) and healthcare technology.

(Compiled by Liu Yujing)