VerImmune, Inc., a Washington, DC-based early-stage biotechnology company specializing in the development of innovative products based on a novel Virus-inspired Particle (ViP™) technology platform, raised an additional $3.125million from follow-on Seed financing and a partnership milestone payment.
The follow-on financing was led by previous investor, Proxima VC, with participation from other previous investors such as Gaingels, Mana Ventures and others. In addition to this financing, a milestone payment from Fosun Pharma USA was triggered by the completion of a process development milestone.
Proceeds will be used to accelerate GLP/GMP activities towards an IND for VerImmune’s lead product candidate VERI-101.
Led by Joshua Wang, Founder and CEO, VerImmune focuses on Oncology, wherein the ViP technology enables a first-in-class cancer immunotherapy approach known as Anti-tumor Immune Redirection (AIR). This method harnesses the body’s pre-existing immune memory from past infections or childhood vaccination to combat cancer. Its lead immuno-oncology product candidate, VERI-101, utilizes the ViP platform to harnesses the cellular immune memory responses from prior cytomegalovirus (CMV) infection to fight cancer. Such a mechanism of action has the potential to redefine the treatment paradigm as a stand-alone product or in combination with other immunotherapies, for patients with untreatable cancers or resistance to existing therapies.
VerImmune, Inc., a Washington, DC-based early-stage biotechnology company raised an additional $3.125million from follow-on Seed financing and a partnership milestone payment. Best wishes to everyone in the group. This will be a huge accomplishment for them in the future.Shishir Gupta, The Founder & CEO of StartupLanes
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