Geneos Therapeutics Closes its Series A3 Financing With Investment of $5 Million
-- Proceeds Will Fund Completion of GT-30 Trial of Personalized Therapeutic Cancer Vaccine in Liver Cancer --
-- Shanghai-based SHC Added to Geneos' Investor Syndicate --
PLYMOUTH MEETING, Pa., Sept. 27, 2023 /PRNewswire/ -- Geneos Therapeutics, a clinical stage biotherapeutics company focused on the development of personalized therapeutic cancer vaccines (PTCV), today announced that it has completed its Series A3 financing round with an additional investment of $5 million, totaling $10 million. This investment adds Shanghai Healthcare Capital (SHC) to Geneos' investor syndicate. Dr. Jing Bao will join as a board observer, bringing extensive expertise in the pharmaceutical industry and with global clinical trials.
"We are pleased to add SHC to our investor syndicate and Dr. Bao to our team. The depth of knowledge the SHC team brings as well as their network in China will be invaluable to Geneos, especially as we pursue hepatocellular (liver) cancer as our initial target," stated Niranjan Sardesai, PhD., president and chief executive officer of Geneos Therapeutics.
"The results that Geneos has achieved to date in the clinic with its personalized therapeutic cancer vaccine are impressive, and we are pleased to support Geneos' further clinical development of this important treatment," stated Jing Bao, MD, partner of SHC.
Proceeds Will Fund Completion of Phase 1b/2a GT-30 Program
GT-30 is evaluating the safety, and efficacy of PTCV (GNOS-PV02 plus plasmid-encoded IL-12) administered in combination with the immune checkpoint inhibitor pembrolizumab, in 36 patients with unresectable or metastatic hepatocellular carcinoma (HCC) who progress on, or are intolerant to, first-line tyrosine kinase inhibitors (sorafenib or lenvatinib). Study enrollment completed in June of this year with the top-line safety and clinical response data from the complete cohort of 36 patients is anticipated by the end of the year. https://classic.clinicaltrials.gov/ct2/show/NCT04251117.
About Shanghai Healthcare Capital
With the approval of the Shanghai municipal government, Shanghai Industrial Investment (Holdings) Co., Ltd. (SIIC) established Shanghai Healthcare Capital (SHC) with market-oriented, professional and international operation principles. The total fund scale of SHC reached around 7 billion USD. By making full use of the comprehensive advantages of Shanghai, Shanghai Healthcare Capital utilizes the industrial resources to create a leading innovative investment platform in the life science industry based in Shanghai and Hong Kong, with strong links to the Yangtze River Delta and the world, so as to assist Shanghai to establish a top tier biomedical research and development center and manufacturing center in the world. The fund focuses on breakthrough biologics, innovative chemical drugs, high-end medical devices and diagnostics, and innovative business platforms, not only through the integration of capital and industrial resources but also international and domestic operations. For more information, please visit www.siicshc.com.
About Geneos Therapeutics
Geneos Therapeutics, a privately held, clinical stage biotherapeutics company, believes that the company's personalized therapeutic cancer vaccines (PTCVs) may serve an important role in new immunotherapeutic paradigms for cancer. The company's approach, using its proprietary GT-EPIC™ platform, is to target neoantigens (abnormal mutations produced by cancer cells) from individual patient tumors to develop novel and uniquely personalized treatments for cancer. Planning is underway for a potentially registrational clinical trial in advanced hepatocellular carcinoma. Geneos' experienced management team has a track record of success in building immunotherapy-based companies. For more information, please visit www.geneostx.com.
This press release contains certain forward-looking statements relating to our business, including our plans regarding the development of personalized therapeutic cancer vaccines, our expectations regarding our research and development programs, including the planned expansion and conduct of clinical trials and the availability and timing of data from those trials, and the use of our capital resources. Actual events or results may differ from the expectations set forth herein. There can be no assurance that any product candidate in Geneos' pipeline will be successfully developed, manufactured or commercialized, that final results of clinical trials will be supportive of regulatory approvals required to market licensed products, or that any of the forward-looking information provided herein will be proven accurate. Forward-looking statements speak only as of the date of this release, and Geneos undertakes no obligation to update or revise these statements, except as may be required by law.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities.
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SOURCE Geneos Therapeutics, Inc.
