MaxiVAX raises additional CHF5 million

MaxiVAX is a private Swiss clinical-stage biotech company with a novel, patient-specific and personalized active immunotherapy treatment for cancer. Its lead product, MVX-ONCO-1, is in Phase 2 development for Head & Neck cancer in Switzerland. MVX-ONCO-1 is the first personalized cell-based cancer immunotherapy using encapsulation cell technology. It benefits those patients whose immune system is still functioning at a certain base level. Therapy is individualized and can be applied to any cancer type. 

The company raised additional CHF5m and was awarded a European Commission grant of €2,785,000. These funds will be used to support the clinical development programs which include the multi-centric efficacy Phase 2 trial for advanced, refractory Head & Neck Cancers currently ongoing in Switzerland. Head & Neck cancers are reported to account for 330,000 deaths annually worldwide. The company will also start preparations for an international Phase 2 clinical study in a yet to be disclosed rare cancer indication, for which the FDA accepted the Investigational New Drug (IND) application in July 2018. The new funds will also be used to scale up production of the company’s lead compound, MVX-ONCO-1.

Dimitrios Goundis, PhD, Chief Executive Officer of MaxiVAX, commented: “This important and welcome funding now enables us to move forward and accelerate our clinical programs in Switzerland, Europe and the US. We are encouraged by the progress in our ongoing Head & Neck Phase 2 trial, and look forward to its completion in 2021.”