BioVex raises $22M for ongoing cancer trial

Woburn, MA-based BioVex--which is working to develop new therapies for cancer and infectious diseases--has raised $22 million in the first close of its fifth round. Medical Ventures led the round. New Science Ventures joined as a new investor along with existing investors such as ABN Amro (Forbion), Avalon Ventures, Credit Agricole Private Equity, GeneChem Management of Montreal, Innoven Partners and Scottish Equity Partners.

"Building on the impressive data that has recently been generated with our lead cancer product, OncoVEX GM-CSF, in the clinic, the funds raised in this round will allow us to complete our Phase II program and to complete preparations to advance OncoVEX GM-CSF into a registration study in metastatic melanoma," said BioVex CEO Philip Astley-Sparke. "The funds will also be used to progress our lead infectious disease candidate, a vaccine for genital herpes, through to Phase II. "

- see the release on the new round

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