Company secures 10M US dollar growth capital term loan from Silicon Valley Bank (SVB) to accelerate development of immunotherapies for cancer
AdAPT-001, a TGF-beta trap expressing oncolytic virus, designed to activate the immune system and improve checkpoint inhibitors, has started a phase 1 clinical trial
RRx-001, a first-in-class small molecule, is advancing in a phase 3 global clinical trial in small cell lung cancer with SciClone Pharmaceuticals
La Jolla, Calif., Jan. 6, 2021 – EpicentRx, a clinical stage immuno-oncology company pioneering “adaptable” oncolytic adenovirus therapeutics as well as a small molecule CD47 antagonist called RRx-001 to address unmet needs in cancer, today announced $10 million in growth capital financing from Silicon Valley Bank (SVB) to bolster both programs.
These growth capital funds will be used to accelerate the company’s “AdAPT” platform, built on EpicentRx’s next-generation adenovirus viral vector technology, to advance the program’s lead clinical stage product, AdAPT-001, a phase 1 oncolytic adenovirus vector, with proprietary TGF-beta targeting modifications for enhanced anti-cancer immune activation. EpicentRx will also further support its novel small molecule RRx-001, currently advancing in a phase 3 global trial with SciClone Pharmaceuticals as part of a partnership established in 2020.
“We welcome this new relationship with Silicon Valley Bank to reinforce our path forward,” stated Dr. Franck Brinkhaus, PhD, EpicentRx CFO. “EpicentRx continues on a strong growth trajectory following the recent partnership with SciClone Pharmaceuticals involving our phase 3 small molecule asset, RRx-001, and this funding from SVB positions us to carry our current programs ahead aggressively to meet significant company milestones in 2021.”
“We are excited to support EpicentRx with this new senior term loan as the Company continues to advance its clinical stage pipeline to improve unmet needs in oncology,” said Igor DaCruz, Director of Life Science and Healthcare at Silicon Valley Bank.
About EpicentRx Inc
EpicentRx is a clinical stage immuno-oncology company focused on the development of minimally toxic therapeutics for the treatment of cancer. EpicentRx’s phase 3 program is among a portfolio of novel drugs, derived from a class of small molecule macrophage-targeting CD47 antagonists called dinitroazetidines, that has been tested in several clinical trials including an ongoing phase 3 study in small cell lung cancer. The company is also advancing multiple programs through its “AdAPT” virus platform, including a TGF-beta trap in Phase 1, which neutralizes the immunosuppressive cytokine, TGF-beta, and neoantigen specific (personalized) cancer vaccines that are designed to target both chemotherapy and immune resistant tumors. For more information, please visit www.epicentrx.com.
About Silicon Valley Bank
For more than 35 years, Silicon Valley Bank (SVB) has helped innovative companies and their investors move bold ideas forward, fast. SVB provides targeted financial services and expertise through its offices in innovation centers around the world. With commercial, international and private banking services, SVB helps address the unique needs of innovators. Learn more at svb.com.
SOURCE EpicentRx, Inc.