PRESS RELEASE - Theravvectys receives a $9.45 million investment
THERAVECTYS raises 7.48 million euros,
one of the largest funding in private equity in 2012
With this funding, THERAVECTYS will soon be able to launch phase I/II clinical trial
for its anti-HIV therapeutic vaccine
Paris, September 4th 2012 - THERAVECTYS, a biotechnology company that is developing a new generation of vaccines based on lentiviral vector technology, announced today that it has secured 7.48 million euros as of the end of H1 2012. These funds, raised exclusively from private investors, will enable THERAVECTYS to pursue the development of a new generation of vaccines, with an anti-HIV therapeutic vaccine as its first priority.
For this third funding round, Guy PAILLAUD, former executive manager of PROMODES, and John PIETERS, former CEO of AMGEN France- some of the company's historical investors - have been joined by 10 new private investors, which include the TETHYS fund (BETTENCOURT family), Philippe ODDO and Richard HENNESSY.
Development of new vaccine candidates
In particular, this new amount of funds raised will enable the company to fund:
Phase I/II of the clinical trial of its anti-HIV vaccine candidate;
The development of new vaccine candidates based on lentiviral vector technology and concerning other indications;
The planning of new laboratories that are larger and can better accommodate the company's development.
"We thank our investors—both old and new—for the trust that they have placed in us. Thanks to their support, within the next two years we hope to be able to demonstrate in humans not only the safety but also the potential effectiveness of our anti-HIV vaccine candidate," says Renaud VAILLANT, CEO at THERAVECTYS who adds that"this funding should also allow us to continue and even strengthen our efforts in research and development of new indications alone or in collaboration with other large pharmaceutical laboratories."
"Access to an effective treatment"
"The anti-HIV therapeutic vaccine developed by THERAVECTYS should enable HIV-positive patients under combination therapies, once vaccinated, to discontinue and perhaps even permanently stop taking any antiretroviral treatment,"explains Jean-Pierre MEYERS, CEO of TETHYS. "Despite all of the progress made, funding for these antiretroviral treatments still remains a public health challenge, without taking into account the numerous secondary effects. Development of an anti-HIV vaccine would enable providing access to effective treatment to not only those who, within developing countries which lack the resources, do not yet have access to care; but this vaccine would also relieve our health care systems that are suffering due to the economic crisis" adds Jean-Pierre MEYERS.
"A clinical trial for an anti-HIV therapy vaccine"
Guy PAILLAUD, historical shareholder in the company, adds "Today I measure the progress made by the company: THERAVECTYS would be the first company in the world to initiate a clinical trial of an anti-HIV therapeutic vaccine with lentiviral vectors. Despite the tough economic times, this fundraising is the fruit of the work performed by Renaud VAILLANT and his team."
A new therapeutic platform with a unique potential
"All of the company's investors measure the potential of lentiviral vector technology and the quality of the technology platform developed by THERAVECTYS" explains Jean-Pierre KINET, CEO of the company iXLife, the first investor in THERAVECTYS. "Today, lentiviral vectors are the most powerful vectors for gene transfer. These vectors can reprogram the dendritic cells and, thus, induce an intense and diversified immune response that may enable treating not only HIV but also many other diseases, particularly cancer," he adds.
(*) Lentiviral vectors:
THERAVECTYS uses lentiviral vector technology to develop a new generation of vaccines. Unlike other gene transfer vectors, lentiviral vectors have the unique ability to induce a strong, sustainable and diversified cellular immune response by endogenously stimulating dendritic cells. This breakthrough technology is expected to make it possible to prevent or effectively treat numerous diseases against which the induction of an effective cellular immune response is required: viral diseases (HIV), bacterial or parasitic infections, cancers, etc.
THERAVECTYS, a biotechnology company, has developed a new generation of vaccines based on lentiviral vector technology. Built on the result of fundamental research conducted at the Pasteur Institute, this breakthrough technology is expected to enable preventing or effectively treating many diseases in which the induction of effective cellular immune response is required: viral diseases (HIV), bacterial or parasitic diseases, cancers... Since its creation, THERAVECTYS has been working on the development of a therapeutic vaccine against HIV. This vaccine, for which the Phase I/II clinical trial is set to begin in the second half of 2012, should allow HIV-positive patients under combination therapies to discontinue and perhaps even permanently stop taking any antiretroviral treatment once vaccinated. Benefitting from an exclusive worldwide license with the Pasteur Institute and from financial support from public institutions (OSEO, ANR), THERAVECTYS is continuing its research and development efforts to combat other diseases. It plans to soon be developing new vaccine candidates, either alone or in collaboration with other pharmaceutical laboratories.
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