BioVex is moving its headquarters from the UK to Cambridge, Massachusetts. The company will retain its research function in the UK. Philip Astley-Sparke, president and CFO of BioVex, will serve as operational head in the US. The biotech also reported that the FDA has given its clearance for a Phase II trial of malignant melanoma with OncoVEX, its lead product for solid tumors.
"The relocation of BioVex's headquarters to the US is a natural progression as the company matures," said Dr Gareth Beynon, CEO of BioVex. "We have recently commenced clinical development in North America and we have just obtained FDA clearance to commence a Phase II study with our lead program following the submission of an Investigational New Drug Application in May of this year. In addition, the Company will be in a position to access a larger pool of capital to sustain our future development."
- read this press release for more