On July 31, 2024 Oxford Vacmedix (OVM), developing therapeutic cancer vaccines, reported the grant of a prestigious non-dilutive Investor Partnership Award from Innovate UK, the UK’s innovation agency, to support the clinical development of OVM-200 (Press release, Oxford Vacmedix, JUL 31, 2024, View Source;utm_medium=rss&utm_campaign=innovate-uk-grant-for-ovm-200 [SID1234645194]). The application was supported by Proven Connect, with additional funding from Prostate Cancer Research when the award is made. The award demonstrates the confidence that Innovate UK have in OVM’s Recombinant Overlapping Peptide (ROP) technology and in the early clinical results with OVM-200.
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OVM-200 is OVM’s lead cancer vaccine, developed using the novel ROP techonogy pioneered by Professor Shisong Jiang at the University of Oxford. It targets survivin which is over expressed in many solid tumours, and is being trialled in the UK in five leading hospitals, to treat ovarian cancer, prostate cancer and non-small cell lung cancer. Phase 1a, the first part of a Phase 1 trial, was completed in 2023 and demonstrated both safety and a very strong immune response as well as allowing the selection of the optimal dose regime of OVM-200 for use to treat late stage cancer. Phase 1b using the dose selected is ongoing.
The Innovate UK Investor Partnership Award is for $900,000 (approx. £740,000) and is dependent on aligned investor funding of at least $1.8m (approx. £1.5m). The Proven Connect funding from Prostate Cancer Research will be in addition to the award from Innovate UK. OVM is currently seeking Series B investment of up to $15m to take OVM-200 into Phase 2 in combination and to accelerate other pipeline projects.
William Finch, CEO of Oxford Vacmedix said;
"We are delighted to have this non-dilutive Investor Partnership Award from Innovate UK and with the ongoing support from Proven Connect. The award shows the confidence that the UK’s innovation agency have both in our ROP technology and in the early clinical results for OVM-200. Continuing the clinical development for OVM-200 will bring hope to many patients and has the potential to meet real clinical need. We are confident of securing investment in our Series B fund and look forward to any additional contacts with potential investors."