On January 9, 2024 MimiVax, Inc., a biotechnology company focused on the development of SurVaxM, a survivin-targeted vaccine therapy for glioblastoma and other cancers, reported new investments from the venture philanthropy arms of leading brain tumor patient organizations, VC, private and existing investors (Press release, MimiVax, JAN 9, 2024, View Source;utm_medium=rss&utm_campaign=new-investments-in-mimivax [SID1234639159]).
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The investments from the Brain Tumor Investment Fund (BTIF), an affiliate of the National Brain Tumor Society (NBTS), the Sontag Innovation Fund, LLC, a subsidiary of the Sontag Foundation, MEDA Angels, LLC, Varia Ventures and private investors will support the ongoing phase 2b clinical study, subsequent registration-related work and prepare the company for commercialization of SurVaxM for ndGBM. Glioblastoma is a rare but deadly cancer with median overall survival of only about 16 months. SurVaxM was developed to bring a paradigm shift to a field that has seen little advancement in decades.
MimiVax is rapidly enrolling subjects in its SURVIVE trial [NCT05163080], a randomized, blinded, placebo-controlled Phase 2b clinical trial of SurVaxM among patients with ndGBM at 11 cancer centers across the USA. This follows the successful Phase 2a study published in the Journal of Clinical Oncology which met its primary endpoint, achieving a median overall survival (mOS) of 25.9 months – and found that 41% of the patients receiving SurVaxM survived at least 3 years, with several long term progression-free survivors.
Investment funding is designed to help MimiVax achieve its goal of revolutionizing the landscape of brain tumor treatment. "We are honored to receive significant investments from the Brain Tumor Investment Fund, the Sontag Innovation Fund, MEDA Angels, Varia Ventures and our private investors. "Their confidence in our mission further propels our efforts to make a meaningful impact in the lives of those affected by brain tumors," said Michael Ciesielski, CEO, MimiVax, Inc.
The Brain Tumor Investment Fund, known for its dedication to funding pioneering solutions in neuro-oncology, expressed enthusiasm about the partnership. "Brain tumor patients and caregivers desperately need better outcomes. The results seen in previous trials of SurVaxM make us optimistic for the SURVIVE Phase 2b trial and the potential for a new treatment on the horizon" said John Higgins, Managing Director of BTIF.
MEDA Angels, (part of the Tech Coast Angels (TCA) network) are a health-care focused investor group founded by physician, payers and scientist-angel investors, supported by a team of regulatory, reimbursement, legal and financial advisors. "We knew the grave unmet need for game-changing therapy for glioblastoma, a devasting brain cancer with median overall survival of just 16 months. After review of MimiVax’ approach, novel survivin targeting and strong data through their Phase 2a, we became confident they were well worth backing." -MEDA Angels
The Sontag Innovation Fund, building on the reputation of the Sontag Foundation as one of the largest private funders of brain tumor research in North America, is proud to have MimiVax as a portfolio company. "There is an extraordinary unmet need for new treatments that make a major impact in the brain tumor space. We are excited to play a role in the development of promising therapies like SurVaxM" said Scott Davis, Managing Director of the Sontag Innovation Fund.
MimiVax extends its gratitude to the Brain Tumor Investment Fund, the Sontag Innovation Fund, MEDA Angels, Varia Ventures and our private investors for their support and confidence in the company’s vision. This investment fortifies MimiVax’s position as a key player in the quest for innovative solutions in the fight against brain tumors.