OncoSec Secures $7 Million Investment from Alpha Holdings to Advance TAVO Clinical Development

VCBeat (WeChat ID: vcbeat) has learned that U.S. biotechnology company OncoSec Medical Incorporated (NASDAQ: ONCS) announced on December 10 (local time) that it had secured a $7 million investment from Alpha Holdings (KOSDAQ: 117670) at a price of $1.50 per share.

Under the terms of the agreement, Alpha committed to purchasing $15 million worth of OncoSec’s common stock in two tranches at a price of $1.50 per share. Each tranche is subject to a six-month holding period commencing from the funding date. In October of this year, Alpha funded the first tranche of $8 million.

As part of the value-centric foundational strategic investment, these funds will be primarily allocated to the clinical development of OncoSec’s immunotherapy candidate TAVO™ (tavokinogene telseplasmid).

OncoSec is a clinical-stage biotechnology company founded in 2008 and headquartered in New Jersey, USA. The company is dedicated to developing cytokine-based intratumoral immunotherapies designed to stimulate the human immune system to target and attack cancer.

OncoSec’s immunotherapy agent, TAVO, delivers DNA-based interleukin-12 (IL-12) intratumorally. IL-12 is a naturally occurring protein with potent immunostimulatory properties. By employing electroporation technology, TAVO aims to achieve controlled local expression of IL-12 within the tumor microenvironment, thereby enabling the immune system to target and attack tumors throughout the body.

OncoSec has established a deep and diverse clinical pipeline, positioning TAVO as a potential treatment for multiple cancer indications. The latest clinical study results of TAVO demonstrate that TAVO elicits both local immune responses and systemic effects, whether used as monotherapy or in combination with checkpoint inhibitors.

“We have identified the biotechnology sector, particularly the field of immunotherapy, as a key value driver propelling our growth. Specifically, we see significant potential in OncoSec’s ability to transform promising drug candidates into high-quality therapeutics,” said Hee Do Koo, President and CEO of Alpha Holdings. “OncoSec recently released preliminary data on TAVO, demonstrating its substantial potential when used in combination with checkpoint inhibitors. We believe their platform has broad applicability and can improve patient outcomes by expanding the efficacy of checkpoint inhibitors across multiple tumor types.”

“Alpha shares our optimism regarding the potential of our platform. As we advance the clinical development of TAVO and expand our robust pipeline of compounds for intratumoral therapy, their continued support will be a valuable asset to us. Furthermore, our collaboration with Alpha provides opportunities to expand our business in Korea and across Asia,” said Daniel J. O'Connor, President and Chief Executive Officer of OncoSec.

Alpha Holdings is a publicly listed company on the KOSDAQ Market. Founded in 2002 and headquartered in Seongnam, South Korea, the company was formerly known as Alpha Chips Corp before being renamed Alpha Holdings in August 2016.

Alpha Holdings is primarily engaged in the design, development, services, and manufacturing of system semiconductors, as well as the development of biotechnology and thermal composite materials. Since its inception, Alpha Holdings has successfully undertaken multiple projects and has become a key partner in Samsung Electronics’ Samsung Advanced Foundry Ecosystem (SAFE).