PARIS--(BUSINESS WIRE)--THERAVECTYS, a French biotech company specialized in the development of a new generation of therapeutic vaccines and immunotherapies against major global infectious diseases and cancers, announced the grant of €1.9 million from Bpifrance in the form of a repayable advance as part of the Development of Innovation Assistance program (ADI).
With this support, Bpifrance contributes to the funding of the optimization and the upscale of the production process of lentiviral vectors as well as the conduct of regulatory preclinical studies of a therapeutic vaccine against Adult T-Cell Leukemia/Lymphoma virally-induced by HTLV-1.
"We are delighted to benefit from the renewed confidence of Bpifrance. With this support, THERAVECTYS will be able to accelerate the optimization of its manufacturing process and the production of lentiviral vectors and T-cell therapies to be used in clinical trials. The valuable combination of our expertise and manufacturing capabilities will further strengthen THERAVECTYS' position as a recognized leader in the space of lentiviral vectors", said Renaud VAILLANT, Chief Executive Officer.
Pascale PIEL, the company's Chief Financial Officer commented on the quality of the exchanges between Bpifrance and THERAVECTYS. "Through the support of our manufacturing activities, this €1.9 million contribution will put us in a better position to successfully conduct the preclinical and Phase I/II trials related to our first vaccine candidate in oncology and against an indication of particular interest for Japan".
Sophie MAGNÉ, Regional Deputy Director of Bpifrance for the Greater-Paris emphasizes, "Bpifrance is a public institution with no equivalent in Europe. Our mission is to help fulfill a national priority: contributing to making France a great place for innovation and of entrepreneurs. Biotechnology is one of our top three priority, along with Digital and CleanTech. We are proud to take part in the development of THERAVECTYS, one of the most promising innovative biotech company, using a unique and novel vaccination approach."
Collaboration between Bpifrance and THERAVECTYS
The long-established and trustful relationship between Bpifrance and THERAVECTYS has recently led the bank to reward the company for its growth and innovation potential and welcome Renaud VAILLANT its CEO to join Bpifrance's Excellence Network.
THERAVECTYS is privately-owned, fully-integrated discovery and clinical development biotech company originating from the Pasteur Institute.
The company capitalizes over 15 years of fundamental research in the field of lentiviral vectors and has secured worldwide exclusive rights to Pasteur Institute intellectual property.
Based on its lentiviral vector technology platform, THERAVECTYS develops therapeutic vaccines and immunotherapies to fight cancers and infectious diseases, including a proprietary and differentiated CAR T-cell technology platform.
The company is strongly supported by renowned investors and former global biopharmaceutical executives and is rapidly progressing in its R&D activities and in-house GMP production capabilities.
Alone and in collaboration with partners, THERAVECTYS is accelerating its clinical development programs and is planning to initiate two additional phase I/II clinical trials in oncology in 2015.
Formed by the law of 31 December 2012, Bpifrance (a public sector investment bank) is the outcome of the merger between OSEO, the FSI, CDC Entreprises and FSI Régions. Its two shareholders are the French state and the Caisse des Dépôts bank. Its object is to support businesses (SMEs, medium-sized enterprises and larger companies of a strategic importance to the French economy), from start-up through to stock market flotation, by providing loans, guarantees and equity. Bpifrance also provides enhanced support and backing for innovation, export, and external growth. With its 42 regional offices, it is a one-stop shop for entrepreneurs in each region for all their finance and investment needs.