CA-SOTIO
14.10.2019 12:10:03 CEST | Business Wire | Press release
SOTIO, together with PPF, and MaveriX Oncology, Inc., today announce the investment of PPF Group in MaveriX Oncology Inc., a private biotech company with a proprietary pipeline of targeted, small-molecule cancer chemo-immunotherapeutics. PPF has committed to investing $6.5 million in MaveriX Oncology’s ongoing Series A financing contingent on key development milestones. In total, MaveriX is aiming to secure a total of $20 million in funding and the round will remain open for additional investors to join. The proceeds will enable MaveriX to advance the company’s lead program MVX-5005 through IND-enabling studies, and complete first-in-human Phase Ia/Ib clinical trials for the treatment of solid tumors in support of clinical proof-of-concept. The company will also advance further platform programs to drug candidate selection.
In addition, SOTIO has secured an option to license and co-develop MVX-5005 and related next-generation compounds in Europe, contingent on completion of the first phase I trial. Upon exercise of the option, MaveriX and SOTIO will collaborate and share the costs for development of MVX-5005 and MaveriX will become eligible to receive up to $138 million in development, regulatory and commercial milestones if MVX-5005 is successfully developed in multiple cancer indications in Europe. Further terms on the investment and option to license are not disclosed.
MVX-5005 has been designed to selectively kill cancer cells and eradicate immune suppressive cell subsets known to cause resistance to chemotherapy and immunotherapy. MVX-5005 utilizes a proprietary targeting and activation scaffold, a Small-Molecule Drug Conjugate (SMDC) to improve on the clinical safety and efficacy of a DNA damaging agent which exhibits broad anti-tumor activity including immunomodulatory and immunostimulatory properties. Pre-clinical studies have shown that MVX-5005 exhibits broad single agent anti-tumor activity with a favorable safety profile. MVX-5005 is currently in formal IND-enabling studies. MaveriX anticipates initiating a Phase I clinical study by the end of Q4 2020.
Through the investment, MaveriX will also advance several of its innovative pipeline programs based on the SMDC platform conjugated to other established or novel therapeutics.
Dr. Steven Everett, President and CEO of MaveriX Oncology, said: “We are grateful to the PPF Group for leading the Series A round as we advance our lead program MVX-5005 into the clinic and continue to expand our differentiated SMDC platform. The strong support of PPF and SOTIO enables us to achieve our next step of growth as we aim to quickly bring new and improved treatment options to patients that suffer from cancer.”
Dr. Daniel Von Hoff, Physician in Chief and Distinguished Professor at the Translational Genomics Research Institute (TGen) in Phoenix, Arizona, said: “The preclinical data of the lead program of MaveriX is encouraging. Overcoming some of the limitations of current chemotherapy as exemplified by MVX-5005 has great potential across many solid tumors. Together with our experts at TD2, we are very pleased to support development efforts of MaveriX to bring better cancer treatments to patients in need.”
Dr. Radek Špíšek, Chief Executive Officer of SOTIO, said: “We believe that the MaveriX SMDC technology approach enables the selective delivery of potent anti-cancer agents directly to tumors. A depleting effect of MVX-5005 on the immunosuppressive cells in the tumor microenvironment represents an additional mechanism of action and indicates that MVX-5005 might act as an efficient chemo-immunotherapy. We are very much looking forward to supporting MaveriX in its efforts to build an innovative oncology company developing first-in-class anticancer agents.”
As part of the agreement, Dr. Norbert Prenzel, Head of Business Development and Licensing of SOTIO, will join the board of directors of MaveriX Oncology Inc.
Please find the full release online at: https://www.sotio.com/news-publications/news .
View source version on businesswire.com: https://www.businesswire.com/news/home/20191014005287/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Incyte Announces New Positive 54-Week Late-Breaking Data for Povorcitinib in Hidradenitis Suppurativa at the 2026 American Academy of Dermatology (AAD) Annual Meeting28.3.2026 20:00:00 CET | Press release
Phase 3 data from the STOP-HS program demonstrate povorcitinib’s substantial and durable clinical efficacy through Week 54 in patients with moderate to severe hidradenitis suppurativa (HS). Through Week 54, clinically meaningful and durable responses were observed across all groups in both STOP-HS1 and STOP-HS2, with up to 71.4% of patients achieving HiSCR50. Improvements in clinical responses across high stringent thresholds were observed, with up to 57% of participants achieving HiSCR75 and up to 29% of participants achieving HiSCR100. Povorcitinib treatment led to consistent reductions across key inflammatory lesion types, with full resolution (ANdT=0) achieved in up to 20% of patients. Additionally, clinically meaningful improvements in quality-of-life measures, including skin pain and fatigue, were observed at Week 54. The overall safety profile of povorcitinib through 54 weeks is consistent with previously reported data, and both doses were well tolerated. Incyte (Nasdaq:INCY) to
Takeda’s Zasocitinib Delivered Rapid and Durable Skin Clearance in a Convenient Once-Daily Pill, Affirming Promise to Reshape Psoriasis Care28.3.2026 20:00:00 CET | Press release
About 70% of patients treated with zasocitinib achieved clear or almost clear skin (sPGA 0/1) at week 16 in Phase 3 plaque psoriasis studies A significantly greater PASI 75 response rate versus placebo was observed as early as week 4 Safety profile consistent with Phase 2b studies with no new safety signals identified Takeda(TSE:4502/NYSE:TAK)today announced new data from the two pivotal Phase 3studies of zasocitinib (TAK-279), a next-generation, highly selective oral tyrosine kinase 2 (TYK2) inhibitor, in adults with moderate-to-severe plaque psoriasis (PsO).1 Presented as a late-breaking abstract at the 2026 American Academy of Dermatology (AAD) Annual Meeting, these data show that convenient once-daily oral zasocitinib demonstrated rapid and durable skin clearance with a safety profile consistent with Phase 2b studies.1,2 “Our goal in psoriasis treatment is clear or almost clear skin, and previously this has been achieved primarily with injectable therapies,” said Melinda Gooderham,
AAD 2026: Late-Breaking Nemolizumab Data Demonstrate Clinically Meaningful Benefits for Children Aged 2 to 11 With Moderate-to-Severe Atopic Dermatitis28.3.2026 16:00:00 CET | Press release
Pharmacokinetics, safety and efficacy clinical study data show that nemolizumab achieved clinically meaningful reductions in skin lesions and itch through Week 16, which were sustained up to a year in children aged 2 to 11 with moderate-to-severe atopic dermatitis1 These findings reinforce the previously established safety and efficacy of nemolizumab in adults and adolescents with moderate-to-severe atopic dermatitis, for which it is approved by multiple global regulatory authorities2,3 Up to 25% of children are affected by atopic dermatitis, and currently there are limited approved treatment options for children living with moderate-to-severe atopic dermatitis4,5 Galderma (SIX: GALD) today announced new phase II data showing that nemolizumab was well tolerated and effective in children (aged 2 to 11 years) with moderate-to-severe atopic dermatitis, with a clinically meaningful and sustained reduction in skin lesions and itch for up to a year.1 Results will be presented in a late-break
Angelalign Technology (6699.HK)Releases 2025 Results: Passion for Clinical Excellence Drives Worldwide Growth27.3.2026 20:56:00 CET | Press release
Angelalign Technology Inc. (6699.HK) (“Angel” or the “Company”) released its financial results for fiscal year 2025. During the reporting period, the Company continued to do well in both the global and China markets. Total case volume was 532,400, which increased 48.1%, revenue was USD 370.3 million, which increased 37.8%, and adjusted net profit was USD 43.8 million, which increased 63.0%. The results were driven by Angel’s passion for clinical excellence and its open and inclusive culture that empowers talented people to work together to meet customer needs, the Company said. Fox Hu, CEO of Angel, stated: “The clear aligner industry is complex and multidisciplinary. It requires top-tier technical and operational talent along with seamless collaboration among professionals from diverse geographies. Angel’s open and inclusive culture attracts professionals who share a passion for clinical excellence and a dedication to bringing outstanding products and services to customers. This melti
Axway Positioned as a Leader in the IDC MarketScape: Worldwide API Management 2026 Vendor Assessment27.3.2026 18:46:00 CET | Press release
Axway, a 74Software company (Euronext: 74SW) and global leader in federated API management and enterprise integration, has been named a Leader in the IDC MarketScape: Worldwide API Management 2026 Vendor Assessment.1 Axway Amplify securely connects, orchestrates, and automates data integration. Organizations in financial services, manufacturing, healthcare, and other industries rely on Amplify to modernize integrations and confidently unlock data to deliver superior digital services faster. The report notes: “The platform benefits from Axway’s long-standing experience in B2B integration, secure file transfer, and legacy connectivity, providing differentiated capabilities for organizations that need to expose and control APIs around core systems that are not cloud-native.”1 This multi-pattern expertise in security, integration, and federated governance — built during the early phases of the API-driven digital transformation — becomes especially critical as enterprises seek to govern dat
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom